The Minister of National Economy and Finance, Kostis Hatzidakis, gave a message tonight, from Thessaloniki, to respect fiscal stability and support those affected by natural disasters, as well as the extroverted industry, speaking from the podium of the open meeting of the Association’s general assembly of Industries of Greece (SBE).

In more detail, he assured that the state will be able to meet the costs of restoring the disasters and supporting the fire victims and flood victims in Evros and Thessaly, despite the stressful conditions and the many fronts: “We will support the businesses that have been affected and the households and the fellow human beings in need, dealing with all the effects of extreme weather phenomena, not only because our conscience dictates it, but also because we have the ability to do it” characteristically said Mr. Hatzidakis and added: “first of all, we have taken care to have a good account, so that we can help in such difficult situations”.

Addressing an audience of North Hellas industrialists, he pointed out that the government is not forgetting the role that exports and industry play in reducing imbalances in the economy and the trade balance. “In limiting the imbalance in terms of the trade deficit, sectors such as the pharmaceutical industry and agri-food/processing have helped us over the past four years. The branches that contribute to extroversion, we will also support them, not for votes, but for reasons of need, because they are useful. Especially here in Northern Greece, the industry can have an additional role, a national role” he underlined.

He reminded that on October 20 and December 1, respectively, the awarding of the investment grade to the Greek economy by two more houses, S & P and Fitch, is expected, a matter which, when “closed”, will constitute a vote of confidence in the Greek economy by people who had been relegated to the “trash” category. “From the amateur team we go to the A’Ethniki” he characteristically said.

He reiterated that the bill on competition in the banking system will soon be submitted to Parliament, on the basis of which non-bank institutions will also be allowed to grant loans.

Mr. Hatzidakis also underlined that government officials do not pretend to be political Santa Clauses. “To a large extent, this is one reason why Greece is currently the second fastest growing country in the EU – because we have laid the foundations for growth, both with our fiscal policy and a number of other policies,” he said.

Regarding high interest rates and the additional financial burden they create for businesses, he pointed out that in this case “you can’t have both the whole pie and the dog full”, recalling that the European Central Bank (ECB), as and the US Federal Reserve (FED), implements interest rate hike policy as the classic recipe to control inflation. Asked when this period of increased interest rates is expected to end, he said he is not a prophet, but more and more people are now predicting “that we have reached the highest point, and after we stay at a plateau, a de-escalation will begin.”

The positions of Mr. Hatzidakis on the above issues were made during his greeting, but also during a discussion with three northern Greek businessmen, who asked him questions: the president of SBE, Loukia Sarantis and the former presidents of the Association Athanasios Savvakis and Georgios Mills.

New courageous decisions are called for

Greek industry needs new courageous decisions, which will effectively set aside the political costs, will clash with entrenched attitudes of regression and will contribute decisively to the exoneration of private initiative, as pointed out by the president of the Association of Greek Industries (SBE), Loukia Sarantis, while reminding to Mr. Hatzidakis the eight proposals submitted by the body to the prime minister and the government.

Referring to the disasters in Thessaly and Evros, Ms. Saranti expressed the certainty that they will create a greater wave of urbanization that can lead to desolation in these areas and emphasized that “now, without delay, the State must ensure that incentives are given. Our opinion is that in addition to the full support and rehabilitation of those affected, the implementation of a realistic plan is needed to deal with similar crises in the future”.

Regional disparities and development unilateralism, are the two major pathogens that harm our economy, he added and developed the proposals of SBE for a number of major issues such as the inability to find personnel from industry, the improvement of infrastructure in the country, the enlargement of the productive base, reducing the technology gap, and containing the cost of energy and the cost of money after the recent rise in interest rates.