’60 000 Greek companies to move to Bulgaria’ – Hellenic business association chief

’60 000 Greek companies to move to Bulgaria’ – Hellenic business association chief

Sofia, July 20, 2015/ Independent Balkan News Agency

By Clive Leviev-Sawyer of The Sofia Globe

About 60 000 Greek companies intend relocating to Bulgaria because of higher taxes on companies, capital controls and the Tsipras government’s inability to deal with their problems, according to Vassilis Korkidis, president of the Hellenic Confederation of Commerce and Entrepreneurship.

Korkidis, who has been consistently critical of the current Greek government’s policies and whose confederation sent an open letter to the Greek government in January calling for steps to avoid businesses taking flight from the country, was speaking to Greece’s Skai TV on July 19.

He said that the further borrowing meant that corporate taxes would rise from 26 to 29 per cent, which in turn would mean many companies, most of them SMEs, would go out of business.

According to Korkidis, the Greek government was “incompetent” because the auditing committee meant to examine requests by SMEs for capital control exemptions had failed to do its job, Greek and Bulgarian media reports on the Korkidis interview quoted him as saying.

But Nikos Filis, representative for Greek majority governing party Syriza, called into question Korkidis’s claims, saying that he was scare mongering, and saying, “Mr Korkidis, I suppose you sponsor those who leave?”.

Filis said that the 25 billion euro recapitalisation of Greek banks would mean relief regarding bad loans both for companies and citizens that were the least wealthy.

Earlier in July, Korkidis sent an open letter to Greek prime minister Alexis Tsipras, as negotiations with euro zone leaders and the country’s creditors were ongoing, calling for a social contract between the government, employers and employees to find solutions to the accummulated problems of the Greek market. At the time, Kordikis called for an agreement with creditors to be concluded as swiftly as possible to prevent Greece going bankrupt.

(Photo of Korkidis: ueapme.com)