The Hellenic Radio (ERA): News in English, 10-09-15

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From: The Hellenic Radio (ERA) <www.ert.gr/>

CONTENTS

[01] Hellenic Railways Plans Indefinite Strike

Hellenic Railways Company (HRC) employees have decided to escalate mobilizations, starting next week with repeated 3-hour work cease demanding withdrawal of draft-bill providing for purging of the organization. Work cease is expected to disorganize train services' timetable as only the suburban railway is expected to run services. In the meantime, HRC staff are planning to stage indefinite strike and other forms of mobilizations such as occupation of the company's buildings and ticket offices, starting on the day of submission of relevant draft-bill.

Source: ÍÅÔ - ÍÅÔ 105.8

News item: 40875

[02] Lift of Fuel Price Ceiling

The political leadership of the Development Ministry has decided to lift fuel price ceiling from midnight after a long meeting of Development undersecretary Dinos Rovlias with petrol-station owners. He said "there is no further need for fuel price ceiling after dealing with some cases of profiteering". The Federation representing petrol-station owners on the island of Crete maintain a tough stand keeping their shops closed today and insisting on full lifting of fuel price ceiling.

Truckers are holding a meeting to decide on their further stand. "This government shows its inefficiency every day", stresses LAOS president G. Karatzaferis.

Sources: ÁNA-ÌPA, ÍÅÔ, ÍÅÔ 105.8

News item: 40890

[03] Swimming-Pools Indication of Tax Evasion

Tax department inspections in northern Greece have found some 1.100 unregistered swimming-polls in mansions and summer houses in Thesaloniki, Halkidiki and Pieria. Cross examination of data found a 280 square meters house registered in an offshore company as only 36 square meter house

It is estimated that fines after cross examination on data about 2.500 over 25 meters long luxury boats will bring over 1 billion in revenues. The Tax Department has 4.000 names of luxury boat owners who have illegally declared them as work boats.

Fines on unregistered swimming pools are determined at â¬100 per square meter fpr up to 60 square meters swimming pools and â¬200 for over 60 square meters swimming pools. Fines for indoor swimming pools are double.

Source: ÍÅÔ News item: 40886

[04] Positive IMF Report on Greek Economy

Greece has made a strong start in implementing economic policies and promoting significant reforms attached to a fiscal stability program says the first International Monetary Fund report assessing the memorandum materialization course. The IMF said fiscal criteria were met, though challenges exist.

Tax Evasion still a "Thorn"

The country's economic outlook remains unchanged, the IMF said, though inflation has been revised higher due to rise in indirect taxes. The impact, however, will not be permanent as rise in incomes has been limited, the report says.

It notes good fiscal performance at state level, above the targets set, thus balancing deficit at regional level.

Banking system liquidity remains tight but sufficient as it is supported by the European Central Bank and other measures taken.

The IMF also places emphasis on substantial reforms in the pension system and labour market, which have been implemented earlier than anticipated, and stresses that other significant reforms are in progress. Despite slight shortfall in revenues, fiscal criteria till the end of June were met, though "risks exist on the revenue outlook" because of the economy and spending that's not under full control in sub- national entities.

Furthermore , the IMF says the key challenge remains safeguarding financial sector stability while steps to advance tax administration would have been made till the end of September. At this point, IMF underlines that the government's determination meets a deep rooted tax evasion culture and Tax Department strong domestic reactions. Progress is expected to be gradual while IMF staff underlines that emphasis should be placed on unrevealed pockets of wealth as questions are raised on how fair the whole effort is.

Sources: ÍÅÔ, ÁNA/ÌPA

Related News: PM Asked No Deviation from Memorandum

News item: 40874

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