Critical issues concerning the State’s guarantees to the servicers and the business plan of the companies in question, the evaluation of the Court of Auditors and the overall course of the Greek economy, was raised by Nikos Pappas during its placement at the meeting of the State Accounts and General Balance Sheet and Budget Execution Control Committee.
His parliamentary representative SYRIZA–Progressive Alliance he pointed out that “the national delegation is entitled to know” the basis on which the government’s assurance that there will be no problem in the next decade with government guarantees relating to mortgage securitization. “If the servicers are only at 75% of the projected collections, will the State be asked to cover the remaining 25%? Will auctions increase to meet initial flow assumptions?’ he asked, asking for complete transparency and recording of the relevant commitment in the budget. He also requested “to bring their business plans to the Parliament servicers».
Referring to the report of the Court of Auditors, he emphasized that it is confirmed that “productive investments and net capital formation remain low, while the overperformance of revenues is mainly due to the rapid increase in VAT, the most unfair tax, which has jumped from 17 billion in 2019 to almost 30 billion euros”. At the same time, he noted that based on the data, it is proven that the government chooses surpluses at the expense of social and development expenses.
Closingthe Member of Parliament B3 of the South Sector of Athens commented on the recent statements of the former Prime Minister Antonis Samaras: “The N.D. it did not deliver a country ready to take off in 2015. It delivered just €2 billion, or so, to the Treasuries. If he had stayed in the government, ELTA, PPC, EYDAP would have been privatized. These were her commitments.” And he continued: “The N.D. it talks about growth in 2014, but it found itself, based on its own 2012 medium term, €45bn behind its own targets in GDP and €20bn behind its own targets in surpluses”.
To complete: “In July 2014, in the memorandum they promised a new launch of the GDP over 50-60 billion and – miraculously – at the same time they promised surpluses of 4.5% and all this in a memorandum condition”. In relation to Mr. Samaras’ reference that Greece would be on a precautionary credit line, Nikos Pappas explained that “the precautionary credit line has exactly the same terms as the standard loan, according to the ESM. So, therefore, the preventive line of support would bring along a memorandum.” Concluding, he emphasized: “Until 2014, we had two programs that collapsed. Then came an agreement, which, with all the difficulties, was completed and the country came out of the memorandums. This truth is indescribable and SYRIZA-Progressive Alliance will defend it every day.”