Hatzitheodosiou: Measures are positive, but not enough

The Greek economy needs a cut in excise duty on fuel, even if only for a limited period. At the same time, the government must step up pressure on the EU to take immediate action, says the president of the Athens Chamber of Tradesmen.

Hatzitheodosiou: Measures are positive, but not enough

This article is an AI translation of an original piece published in Greek. Read original

The president of the Athens Chamber of Tradesmen is calling for a cut in excise duty on fuel, support for energy-intensive small and medium-sized enterprises and tougher checks on cartels, warning of further price rises and an impasse for households and businesses.

In a statement, Giannis Hatzitheodosiou said: 

“The government has announced new measures and subsidies that will remain in force until the end of October, with the aim of containing energy costs.

The total reduction — through both the state subsidy and contributions from refineries — of 40 cents on heating oil and 20 cents on road diesel, as well as the 10-cent reduction on unleaded petrol and the 30% increase in the heating allowance, can indeed provide some relief to households and small and medium-sized enterprises.

The government’s economic team says the price of heating oil will reach €1.55 per litre, while it will be lower for those eligible for the heating allowance.

But it will not come close to the €1.13 per litre that heating oil cost during the same period last year. That is the figure we should be looking at, not €1.75 per litre — the price in April, when no one was buying heating oil.

At the Athens Chamber of Tradesmen, we have been consistent in our stance. We support any government that introduces measures benefiting the majority, because this will also provide more effective support to small and medium-sized enterprises, which are a dynamic part of society and the economy.

At the same time, however, we do not hesitate to highlight areas that need improvement.

The government, working with refineries, is indeed seeking to support citizens, particularly the most vulnerable. But are these measures enough to solve the problems caused by high energy costs?

The answer is no. We are not facing a temporary difficult situation but a deep crisis that could lead to a significant contraction in the Greek business community. I take it as given that not all SMEs will withstand its effects, while many households will also find themselves in an impasse this winter because their monthly incomes will not be enough to meet so many obligations.

Today, the Greek economy needs a cut in excise duty on fuel, even if only for a limited period. At the same time, the government must step up pressure on the EU to take immediate action. Europe must finally take responsibility towards its citizens. Targeted measures are also needed to support energy-intensive small and medium-sized enterprises. Action is also needed to contain the prices of food and other basic goods, as further price rises are on the way. Finally, checks must be stepped up to crack down on cartels.

Exceptional circumstances call for bolder measures. Greek society has already been living through these exceptional conditions for quite some time.”

 

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