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Proposals for avoiding the financial crisis
It is a well-known fact now that the global financial crisis is marking
the end of an era in the global economy that was dominated by money and
capital markets; an era that was defined and eventually stigmatised by
the slack and sometimes non-existent supervision of international money
markets, the absence of or – at times – minimal State intervention, the
rather unreal salaries of executives, the detachment of market values
from the increase in productivity, excessive investment risk-taking and,
above all, the lack of transparency.
The Federation of Industries of Northern Greece (FING) is constantly
emphasising and proving the existence of a developmental gap between the
centre and the regions. This is what is currently accentuating the
problem of the financial crisis in the regions and especially in
Northern Greece.
FING suggests that the following measures be taken to boost the
enterprises in Northern Greece and to avoid the financial crisis:
1. ‘Things’ need to be reset: we must establish new rules for the
functioning of our markets, but mainly we must forget the slack or even
non-existent supervision of money and capital markets, which have, until
recently, dominated the situation. Within this framework, a solution
must be found to the fundamental structural problems faced by the Greek
economy.
2. A programme of measures and policies must be created, which will
cover a period of at least five years and be the result of an agreement
between the social partners, employees and the State in order to free
the country from the financial crisis.
3. Common ground for co-operation must be found between enterprises and
the financial system: the liquidity of enterprises must be given a
generous boost in order for them to come out of this financial crisis
having suffered the least possible damage.
Additionally, domestic demand must be boosted immediately through the
smooth running of the domestic financial system, which mainly relies on
the unimpeded provision of home loans.
4. Furthermore, employment must be enhanced through the reduction of
employers’ contributions, since this can result in increasing job
creation and not unemployment.
5. Also, the State must be consistent in its payments to enterprises.
The payment of all or part of the State’s debts to enterprises would
certainly offer a breath of relief to domestic entrepreneurship.
6. Lastly, a significant factor that would relieve us from the financial
crisis is the immediate announcement of programmes for boosting
entrepreneurship through the National Strategic Reference Framework
(NSRF). Indeed, we suggest that special provision be made for boosting
entrepreneurship models that adopt innovation and new technologies, have
outward-looking attitudes, respect the environment and develop social
responsibility actions.
7. Education must be improved. Our country’s education system must be
enhanced, and education and training must be linked to our production
system in order to create employees who are ready to take up posts in
Greek enterprises in Greece and abroad.
In any event, the State will have to schedule public investments that
will create new jobs, enhance the income of employees in general, and
eventually increase product consumption, which is a crucial factor for
the private sector.
It is time that we who participate in the financial life of our country
take responsibility, which is why it is important that we remain calm.
Our ability to remain calm will imply that we are mature and serious,
and above all it will reveal our willingness to fight in order to
overcome the crisis.
Previous President's Messages
Zero profits for processing industries in Northern Greece in 2010, with one in three businesses reporting losses
Only daring decisions will take the country out of this impasse
The Federation’s Proposals for development
The need to take measures to immediately bolster the economy and improve business competitiveness
A new year – new expectations for growth and development
Developmental measures to offset unemployment benefits with job subsidies
Enhancing "Greek Value" by resolving problems that drag on
Greece’s rise in the IMD World Competitiveness Yearbook ranking is encouraging news amidst the crisis
The Federation of Industries of Northern Greece making a decisive contribution to manufacturing strategy up to 2020
The government's immediate priorities in 2010 to develop the infrastructure in Thessaloniki and boost the competitiveness of manufacturing enterprises
Expectations from the new government: the manufacturing sector should be the new government’s focus
Industry should be among the Government’s policy priorities
Industry centre stage again
Proposals for avoiding the financial crisis
Bold decision-making for avoiding the financial crisis
Prospects for growth in Northern Greece in an environment of international crisis
Investment Law and Northern Greece
The market of izmir: the next goal for outward-looking enterprises of
northern greece
The
new government’s aspirations for thessaloniki and northern greece:
fing’s proposals for development
Thessaloniki and Northern Greece in International Markets
Regional
development policy as an engine for local industrial development
Global
orientation, productivity and realistic management of the National
Strategic Development Plan (NSDP). The challenges for 2007
Investment Law and Northern Greece
The new
legislative framework for research and technology in Greece: a
government nod of approval for the proposals made by the Federation of
Industries of Northern Greece (FING)
Thessaloniki has the potential to become the second pole of development
for Greece and the headquarters for development organizations nationwide
Changing
attitudes to combat unemployment – Proposals for creating closer links
between education and production
Support
for the Regions: From now on, policy actions and not just policy
announcements
The
business community – a force for social cohesion in Northern Greece
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