Getting out of the “garbage”…

Written by Kostas Stupas

1) Getting out of the “trash”…

Greece’s rating also upgraded by Standard & Poor’s on Friday is another important milestone in the country’s economic rebuilding… Despite the structural weaknesses and “cowardice” of reform that many accuse the government of, this should not be underestimated…

So, on Friday, rating agency Standard & Poor’s gave Greece an “investment grade” rating. The agency raised the country’s credit rating to “BBB-” from “BB+”, which was…

This decision represents the country’s exit from the level where Greek bonds were classified as “junk bonds” after the 2010 bankruptcy.

As the “memoists” will remember and want to forget the “anti-memoists” who openly flirted with leaving the euro and returning to the drachma, the euro countries and the IMF lent Greece more than 260 billion euros in order not to give in. Go bankrupt and collapse financially.

Today, a decade later, Greece is officially out of “bankruptcy,” and the terms of the memorandum of understanding under which it received a bailout last decade allow it to reduce its debt-to-GDP ratio more quickly than the EU average.

This is because Greek GDP has been growing faster in recent years than the eurozone average, and two-thirds of Greek debt is tied to a fixed interest rate of around 1.4%, while interest rates rise along with the cost of servicing the debt. Greek debt.

Greece’s exit from the status of “trash scenario writers” coincides with the political rejection in the “trash can” of the history of heroes of tension and division over the past decade..

Golden Dawn is no more, and so is the inexplicable circus of independent Greeks, while Syriza blows the whistle with hilarious spectacles…

This does not mean that our minds should be blown away. The country remains the poorest in the eurozone and suffers from the highest levels of corruption and an ineffective state bureaucracy.

In practice, raising the credit rating to investment grade makes it easier to attract investment.

For the Greek debt servicing sector, this does not mean much, as two-thirds of public debt is locked at a fixed interest rate.

However, other Greek banks and companies will face more favorable conditions.

An upgrade to investment grade alone may not mean much in a country where two-thirds of its debt is tied to free interest rates. But this development, linked to increased exports and increased investments, as reflected in gross fixed capital formation and the ease with which we returned to primary surpluses, after a respite from the pandemic, supports positive prospects.

Yes, there is criticism of more and faster reforms, but not nihilism and uncontrollable complaining…

2) We don’t do what we want…

Attn: Mr. Stopa Kostas

Dear Sir, On the occasion of the publication of a letter from a reader of your column dated 19.10.2023, https://www.capital.gr/o-kostas-stoupas-grafei/3744589/i-bia-antidoto-stin-plexi/ under the title:

“They do what they want…” Regarding the settlement of debts of the regions affected by the recent bad weather, and restoring the truth, the e-EFKA administration would like to clarify the following:

– In the context of support, relief and facilitation for companies, employers or self-employed insured persons, the State has activated useful provisions regarding the suspension of payment and settlement of insurance contributions for those affected by floods (Official Gazette 5415, vol. B΄). /2023).

– The provisions in question notified under the Public Instrument (AP: 446136/22.9.2023) of the e-EFKA to its competent services, in no way exclude the simultaneous submission of the debtor to another favorable regulation.

However, in order to avoid even the slightest risk of citizens affected by bureaucratic failures, the Central Service of the Insurance Debt Collection Center has begun sending explanatory instructions to its competent departments throughout the national territory, in order to accept applications from debtors who comply with a favorable arrangement for inclusion in a parallel arrangement. It consists of 12 to 24 installments of natural disasters, without resulting in a loss of favorable ranking.

We remain at your disposal regarding matters relating to the competence of the Agency, whose mission covers the entire Greek population through a wide range of services and benefits it offers to employees, employers, pensioners, vulnerable social groups and their families. Our main goal is to respond in the best way to their needs, with reliability, speed and social branding.

Managed by e-EFKA

3) Souq Fahshaa (popular).

Dear Mr. Stopa

I would not dare to send this particular notice if I were not convinced that government officials are reading you, regardless of whether they are writing to you in their oldest shoes, or are not conveying information efficiently…….

The government, intoxicated not only by its electoral success, but by a lack of substantive opposition discourse, but also by a paralyzed media, left citizens of all classes, through the ministers concerned, at the mercy of daily indecency. market.

The rise in the price of oil does not cost much due to the circumstances… but the so-called “housewife basket” for the governor.

Guaranteed. In public markets, there is no minimum profit.

Lack of control on the part of the institution concerned helps solve the problems in this regard.

In the stalls spread across the streets and countryside of Athens, especially in Athens, eight out of ten stalls do not display the prices of the products as they should, in order not to alienate the customer who sees 2.5 euros for grapes and from 2.5 euros. To 3 euros for tomatoes, for example x 70 minutes Three leaves of parsley and that’s it.

Also, nine times out of ten, it gives no clue. After that, the governor says he has taken strict measures against tax evasion.

Where are the surveillance crews that were there before? How difficult would it be to monitor and impose strict fines, for example, in public houses in Athens in order to stop theft without overestimating the consumer?

Don’t wonder how the municipality of Athens and Thessaloniki got lost. Perhaps it was not the mayors who were responsible for the defeat, but the governor’s incompetence in the daily life of the citizen.

With price

D.T

electronic engineer

[email protected]