SEV's stark warning on taxation

The Hellenic Federation of Enterprises (SEV) was particularly critical of the government, as well as the country's creditors, on Thursday, warning that the policy mix under consideration will aggravate the Greek recession. It also estimated that the new tax and social security bills do not tackle the country's biggest problem, which is the fact that labor is not encouraged, and spoke of a policy destined for failure with the economy mired in stagnation.

SEV's weekly bulletin on the Greek economy said in no uncertain terms that the failure to complete the negotiations on the bailout review, and especially the issue of the extra fiscal measures worth 3.6 billion euros up to 2018 that are being contemplated, "generate huge uncertainty in the economy and bring back memories of the nightmare of the first half of 2015."

The industrialists' association further noted, "It...