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14 November 2011

Greek bailout package includes RR measures

Implementation of the Oct. 27 bailout package brokered between former Prime Minister George Papandreou and other European leaders is key to the new government's access to international assistance. Among the austerity measures, experts will have noticed the mention of steps to raise Greek external competitiveness, relying mainly on reducing administative burdens. An investment expert, speaking in Beijing on 10 November, said the Athens has introduced a new investment law to create a business-friendly environment, including providing tax incentives and subsidies in such areas as renewable energy, logistics, tourism, food and beverages. A fast-track law has also been put in place to help cut red tape, fight bureaucracy and facilitate investment. Not much detail for the moment on public sources.

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