Galery

1

Will those employed under a labour contract and pensioners who have borne the greatest burden of fiscal consolidation feel the reduction of the tax burden?

I would be lying if I told you that this would happen tomorrow or the day after.

Are you satisfied with the results of the reduction of the VAT on restaurants or will we go back to 23% as of 1 January 2014?

We will wait for data from those three months, so that we can be sure if we have succeeded.

What has caused the recovery of VAT revenues lately?

This is largely due to the recovery of tourism, and the fact that the recession is actually not as great as expected. We have also made a great effort and filled "holes" in the tax system. Now, with the improvement of the legal system, we need control in order to ensure that provisions are implemented. Currently, we have a lot more auditors than last year, after the merger of tax authorities. We are hiring new tax officials and planning to hire more than 1,500 auditors. The Ministry of Finance is the spear and the government has chosen to support it.

People who evade taxes are being arrested, but public funds get less money. Are you satisfied with the work of the tax mechanism and collection of taxes?

We are doing what we can. It is clear that we are not satisfied and therefore are altering the structure in order for services to become faster and more efficient.

Were you able to convince the Troika to accept the plan for the single tax on real estate and for the confirmation of revenue to be changed to 3.5 billion euro?

The Troika is not particularly happy with the confirmation of 3.5 billion euro. It accepts it, but wants an equivalent totalling 233 million euro included in the financial gap for 2014 and this gap must be foreseen. The plan for the new property taxes will be discussed in the coming days. The improvements resulted in a fiscal gap and there is no room for other changes. If we want more changes, we need to find an equivalent. However, the new tax is fairer than the previous one because property owners are granted relief in most categories. People are levied more, but with less taxes.

We see, however, that overdue liabilities to the state are increasing month after month and now total more than 61 billion euro. Aren’t you worried?

In the last quarter, revenues have been moving in a positive direction. This shows that people for the most part are disciplined even in times of crisis.

What will happen to receipts?

It was shown that the measure of receipts is not easy. Its repeal will relieve workers in the tax authorities. We are trying to find the appropriate measures, but we want to be consistent with our fiscal targets. We do not want to create further shortages. We strive for stimuli that will lead to an increase in terms of electronic money. Card payments will be supported. We want more electronic payments, particularly in occupations where there is tax evasion.

When will banks start to give money to the market?

Do not forget that the crisis started from the banks. If something consoles us at the moment, it is the fact that the M3 indicator is moving at positive levels because of the return of deposits from abroad. We are not yet at the levels at which we would like to be. There is 13-15 billion euro "under the mattress". Before the crisis, the cash that was circulating on the market amounted to 20 billion euro. When the crisis began, it reached 50 billion euro. It is now 33 billion euro. We also have 13 billion euro that have not yet been returned to banks and are not abroad...

People are afraid that deposits will be cut...

They won’t be cut.

Does criticism by some old cadres of New Democracy and MPs against you affect your relationship with the Prime Minister and other members of the government?

Not at all. I have excellent relations with members of the government and especially the Prime Minister.

Will the government complete the four year term?

Of course. We have much work ahead of us, but we are doing well and I do not see why not.

Will you be Minister of Finance in May?

Of course. We will have tough negotiations, and will take up the EU presidency...

But we may think that we do not know what will happen in June or July...

Of course, I'll be Minister. This is a very difficult position and requires great powers, but the challenge is great. And now that we are enjoying our first success, I see no reason to leave.

Are you interested in politics?

It's too early yet. Until the Greek Presidency and debt negotiations are over, I do not see anything else in front of me.

Many people characterize the movement registered on the Greek stock market as accidental. When will it return to developed markets and become the catalyst so that, major capital could settle on the Greek market?

While things are going well in the Greek economy, the improvement on the Athens Exchange is not accidental. Our goal is to continue this good work, so that quality capital can be invested. It is not an obstacle for us that investors who are interested mainly in emerging markets come to the Greek market. This fact has its advantages. They know, for example, that Greece is in the Eurozone, and therefore it is a developed economy by default. It is important to continue the good progress in the financial part, the development and privatization. The latter, in particular, is very important and can play a catalytic role.