Hellenic Federation of Enterprises

The wealth of Greeks shrank by 167 billion euros during the years of the financial crisis - i.e. almost one year's gross domestic product - according to a survey by Credit Suisse included in the weekly bulletin of the Hellenic Federation of Enterprises (SEV).

Overtaxation pushes economic activity underground and kills honest entrepreneurship, says the Hellenic Federation of Enterprises (SEV), stressing that salary workers and pensioners have shouldered most of the burden in recent years while efforts to uncover undeclared taxable income and assets have failed.

The introduction of the capital gains tax in property sales is to be postponed for another year, as the Finance Ministry is preparing an amendment that will likely extend its suspension from end-2016 to end-2017.

The tax, voted into law in 2013, ran into a series of problems and has been repeatedly suspended.

The European Commissioner for Economic and Financial Affairs, Taxation and Customs, Pierre Moscovici is scheduled to visit Greece on November 28 and 29. On Monday, November 28 the European Commissioner will hold a series of crucial meetings with Greek government officials, including PM Alexis Tsipras to discuss matters pertaining to the Greek bailout program.

The rapid deindustrialization of the country has led to the shutdown of at least 18 production units in the last five years from 2012 to 2016.

The latest such incident was the termination of the Pepsico-Ivi plant at Viotia, central Greece, on October 31. Three months earlier, on August 2, listed wire and wire ropes producer Leventeris had shut down its plant near Volos.

Greek bureaucracy is on a par with Uganda's regarding the procedures required for the sale of a property: Following the government interventions of the last few years, it now takes a total of 10 documents, certificates and so on for anyone to be able to sell one item of real estate in Greece, the same number as in the African country whose recent history has been marked by internal and external

Public properties, including real estate assets, are very often sold for extremely low prices, as the political risk factor supersedes even the crucial financial risk that comes with investing in Greece.

Greece's jobless rate recorded a notable decline in the April-June period, but industrialists attributed it to short-term positions in the tourism sector and public sector hirings, adding that the government should instead focus on bolstering private investment.

Counterterrorism analysts believe that the parcel bomb located at the house of the President of Court of Appeals, Isidora Poga, in Cholargos, was probably sent by a third generation of terrorist organization Conspiracy of Cells of Fire, since all evidence points to a new cycle of attacks which started after November 2015 when “Popular Fighters” claimed responsibility for the bombing attack at H

The necessary steps to get the Greek economy growing again after the completion of the bailout review are achieving political and social consensus on the implementation of the bailout agreement, establishing growth-oriented measures to offset the austerity interventions, reforming the obsolete social security legislation, and redefining labor relations through open dialogue, according to Greece