The leftist-rightist Greek government's latest omnibus legislation to meet creditors' demands includes practically the sum of "prior actions" emanating from the current bailout program, and even ones left over from the second memorandum, which was negotiated and passed by a previous coalition government prior to 2015.
The 1,326-page draft bill and addendums includes several of the political "sensitive" measures and reforms that the Tsipras government must still implement, including long-delayed liberalization in the energy and labor sectors, as well as a blanket framework for online auctions of foreclosed properties - actions which leftist SYRIZA, and its right-wing junior partner, the Independent Greeks (AN.EL) party, vilified while in the opposition.
Moreover, according to reports from Parliament's corridors on Tuesday, several draft amendments are due to be tacked on to the main legislation over the coming days. The crucial political "wager" for the increasingly beleaguered Tsipras government is to pass the 400-article bill by Monday, ahead of a regularly scheduled Eurogroup meeting this month.
The most prominent measures and reforms including in the draft bill include:
- Only electronic auctions as of next February.
- A majority (50 percent +1) of due-paying union members must approve an industrial action at a specific enterprise.
- Charges in the regime for allocating welfare payments to families with dependent children, disability payments and other state-allocated bonuses - an initiative aimed, essentially, at cutting spending.
- Establishment of another public entity to absorb the current National Cadastre & Mapping Agency S.A. (land registry), along with th abolition of various land deed offices around the country - one of the very few in the developed world without a unified and functional cadastre.
- Establishment of an energy bourse to absorb the relevant activities now exercised by the Operator of Electricity Market.
- Giving employees owed overdue wages and compensation preference over other creditors in case of an enterprise's bankruptcy, up to the level of 9,669 euros.
- A framework of obligatory arbitration for commercial demands, cases of liability and even civil law claims involving private interests, before any litigation.
- A framework for a new licensing procedure for radio stations.
- Allowing listed and non-listed enterprises the opportunity to capitalize untaxed reserves by paying a tax of between 5 to 20 percent on the amount.
- Abolishing a series of remaining tax deductions in the country.
- transferring another 16 state-owned entities to a "super privatization fund".
Additionally, the number of casino licenses is increase to 13 (from nine today), while allowing the transfer or current casinos to other locations.
