LAOS tables current question for PM on business closures

Popular Orthodox Rally (LAOS) leader George Karatzaferis on Tuesday submitted a question in parliament addressed to prime minister George Papandreou on reversing the negative climate on the market.

In his question, Karatzaferis cited the National Confederation of Greek Trade (ESEE) that, chiefly due to excessive taxation and reduction of the consumers' buying power, approximately 1,500 businesses have left Greece in the last three years and have relocated to neighboring countries, while many others have temporarily or permanently gone out of business.

He also cited a General Confederation of Light Industry and Commerce of Greece (GSEBEE) prediction that some 225,000 small and medium size enterprises will go out of business in the near future and that the banks, despite state reinforcement, are essentially refusing to back the SMEs.

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