Venizelos: Race to regain national pride and liberation

In an interview on a morning show on ANT1, the Finance minister appealed to citizens to return their money to the banks. "Over 65 billion euros have gone since 2009, and now it is 70 billion, unfortunately. What’s worse is that of these 70 billion, we have found only 16 that has gone abroad through remittances," said Evangelos Venizelos.

He admitted that part of the amount was used to pay taxes, but noted that "many billions are still in homes, under mattresses or in chests. It is important to encourage the movement to return the deposits to boost growth, employment and investment". Venizelos said that now that the banking system is getting stronger with the PSI and is being recapitalized; "the program for the return of deposits is very important."

Is our goal to become like France and Germany, or like Estonia? Because if it is to become like Estonia you did it...", remarked journalist George Papadakis. "No, we did not," replied the Finance minister smiling and argued that the example is Germany, which under the Schroeder government implemented the wage reduction program thus gaining high competitiveness today. Elsewhere in the interview Venizelos urged people to think "what it means to borrow from Estonia, Slovakia and Slovenia" and repeated what the Finance minister of Estonia said at the last Eurogroup; he observed that his country is lending money to Greece, but the average wage in the former Soviet Republic is just 180 euros.

Asked to justify the reduction in salaries and pensions, Venizelos replied that "our partners are pressing us to do a lot of things in a very short time and this exacerbates recession, but it’s their money. If it weren't for the program, by tomorrow morning we would have to live with what we make and this would mean an even greater reduction in salaries and pensions."

"The perception in these countries, which they want to impose on Greece too, is that with the reduction in wages unemployment will drop too. Unemployment among young people under 25 is at 48%", while as to the effort for reduction of expenses in the public sector he said that "the large proportion of costs is salaries, pensions, subsidies and welfare benefits. In recent years the average salary in Greece increased by 120%, while in Germany by only 25%. The country was led to defeat, and now all together we must make a great effort to liberate it. The race is to regain Greece's national pride and liberation."

He defended his handling saying that "we are negotiating the terms of the loan agreement with our lenders in a political manner." As he explained, European partners are ask ingthat we do everything possible to depress prices. "They cannot understand how after 5 years of recession we still have such a large deficit in our current account balance. What does this mean? It means that there is still a part of the economy that we have not captured, an underground economy that is performing very well."

Hikes and the PPC

"The PPC does not cut off power for anyone, nor has it done so," the Finance minister said while announcing that the government will comply with the decision of the Council of State.

"At a rate of 82% people have complied with the fee. The country is in need and should use side mechanisms to earn revenue. PPC as a side mechanism helped us to have significant revenues."

Asked whether through the ongoing property taxes they are depreciating the property of the Greek citizens, Venizelos argued that while "the public debt is now at 170% of the GDP, the properties of the Greeks which are invested in real estate exceed 400% of the GDP."

"The sweat of the Greeks is invested in real estate. We save the value of real estate as well. If due to the economic crisis, since we cannot have the revenue we need, we forcefully cancel real estate, everyone will lose all their property. So, it is very important that we preserve the country because we will save the value of real estate."

Referring to outstanding revenue collection efforts, he said that "before the 2004 elections, Karamanlis said that there are 32 billion euros in arrears and PASOK said that they have reached 42 billion in 2009." For Venizelos, about 30 of the 42 billion are owed by about 6,000 businesses and 5,000 individuals.

How did all these debts accumulate and why did the government fail to collect them? "Clear words, they were aided by the tax administration, the State and its inaction. There is a result and it will continue to exist because these things work as examples too," Venizelos replied.

The Finance minister pointed out that "the mechanism alone cannot" collect revenue and urged citizens to join in the fight against tax evasion.

Elections and possible collaboration

"What I have been doing in the last few months at the ministry of Finance is the most important thing a man can do for his country," Venizelos said.

Referring to the upcoming elections, he said that "the country will not be left ungoverned. We all have a high sense of responsibility to guide the country where it should be. The citizen with his vote and ultimately the Greek people as a whole will tell us how they want us to rule the country."

Venizelos warned that "the country must remain European and be saved. Everything elses will lead us into adventures with unpredictable consequences," and criticized the opposition parties and those who say "while playing it safe, various arbitrary and vague things such as 'yes' to Europe but 'no' to the program."

Commenting on Antonis Samaras' effort to engender percentages that will allow ND to form an independent and clear-majority government, the minister of Finance expressed a view that will cause a sensation. "PASOK too has a right to say this, and will be judged on its new leadership, based on the sincerity of its political word and the Greeks, by looking the Greek people in the eyes." Although he clarified that he is fully aware of the very low percentages in the polls for PASOK, he claimed that "we have a democracy of elections and not a democracy of the Gallup polls."

"Things are very difficult, it is important that we believe in ourselves. The effort to overcome the crisis will be made in truth and honesty. After the experience of the crisis we see populism growing once again."

Implicitly responding to views expressed by Christos Papoutsis, Venizelos said the former does not know the issues of the economy. "Many politicians do not have access to the information and do not know how to study it. If one has not gone to the European Council and the Eurogroup, they have a limited view of what is going on."