In brief:
- Extension of the time available to achieve the fiscal targets by two (2) years (until 2016, instead of 2014
- Green New Deal Investment Package for the stimulation and lasting reorientation of the real economy, extra aid from unallocated European resources, Eurobonds and the European Guaranty Funds, in addition to the effective utilization of unused resources from Structural funds.
- Adaptation of the terms of the Memorandum of Understanding to European policies and their goals (referring to: employment, poverty, social dialogue, minimum wages, social cohesion, sustainable and equitable pensions, sustainability and viability, environmental and climate policy, immigration policy, social reintegration of vulnerable groups). The Commission should present a plan to the European Parliament.
- Shift financial resources to the real economy by diversifying for a certain period the exclusive conditions for debt repayment in order to address recession and explosive unemployment.
- Ensuring of the Greek borders with European guarantees, in order to freeze all armament programs for 3 years.
- Engagement of the European Commission in the effort to get detailed data from the Swiss and other banks for Greek deposits, in order to control gray properties and illegal export deposits.
- Establishment of an independent European Audit Commission to provide detailed information on how public debt was accumulated over time and to determine the amount of any “odious debt”.
- Extension of the PSI to include at least the European Central Bank and other central banks (to the purchase value of bonds) and cover of the losses of European and Greek pension funds.
In detail:
- 1. Extension of the time available to achieve the fiscal targets by two (2) years (until 2016, instead of 2014) and addition of a clause for recession / growth. Review of the compulsory primary surplus of +4.5% required by the Loan Agreement, based on the corresponding average in the Eurozone. Primary public expenditure ceilings according to the current average in the Eurozone rather than the 35% required by the Loan Agreement.
- Green New Deal Investment Package for the stimulation and lasting reorientation of the real economy, as an offset to the recession caused by the Memorandum. Extra aid of 30 billion Euros from unallocated European resources, through the „Programme for European Development“, in addition to the effective utilization of the still unused resources of 15 billion in the NSRF, the corresponding resources in Greece from the Rural Fund, the Fund for migrants and asylum seekers and other European programs. These resources should be specifically allocated to the promotion of a Green Social Contract (Green New Deal) that will lead to social cohesion, job creation, and environmental protection.
- Review of all the terms of the Memorandum by the Commission, based on a concrete timetable and a process, in order to adapt the Memorandum to European policies and their goals with reference to: employment, poverty, social dialogue, minimum wages, social cohesion, sustainable and equitable pensions, sustainability and viability, environmental and climate policy, immigration policy, social reintegration of vulnerable groups. The plan should be presented to the European Parliament.
- Suspension of the condition of absolute priority of creditors on Greek public revenue by repealing the relevant Special Account, so that the needs for an efficient public administration and decent welfare state gain at least an equal priority.
- Ensuring of the Greek borders with European guarantees, in order to freeze all armament programs for 3 years.
- Active participation of the European Commission in the effort to get detailed data from the Swiss and other banks for Greek deposits, in order to control gray properties and illegal export deposits having not paid corresponding taxes, as well as to obtain comprehensive data on the black money traded by European companies in the case of Greece.
- Establishment of an independent European Audit Commission to provide detailed information on how public debt was accumulated over time and to determine the amount of any odious debt.
- Extension of the PSI to include at least the European Central Bank and other central banks (to the purchase value of bonds) and cover of the losses of European and Greek pension funds. The recapitalization of banks to be accompanied by a public (but not governmental) control of the administrations during the interim period. European regulations foreseen for the recapitalization of banks through the EFSF, should be also applied toGreece, with a corresponding release and repayment of funds borrowed by the country for this purpose.
In addition:
- Extension for three months to the Government resulting from the forthcoming elections (or any government formed based on the results of the elections on June) to submit an alternative plan for fiscal consolidation with fair burden sharing and timetable that will enable the achievement of goals without disruption in social and environmental sustainability. The latter should be accompanied by a plan to address the problem in balance of payments, as well as to institutionalize full transparency in the operation of the wider public sector. During this time, a halting of all the measures decided for June, as well as those against environmental sustainability is proposed.
- Halting of all regulations allowing legislative intervention in wages under collective agreements. The Greek Government should undertake to submit a plan to minimise the wages gap and alternative ways to support jobs within two months from the elections.
- Reassessment of the viability of the Greek public debt, in order to bring it to levels that can be effectively serviced without reductions in social and environmental sustainability.