Welcome to the new version of European Tribune. It's just a new layout, so everything should work as before - please report bugs here.
Display:
"They don't do philanthropy, they don't pay taxes, and they don't start businesses"

Vernicos says it would be unwise for the government to antagonize ship owners by dramatically raising their taxes. He points out that Greek shipping companies already agreed to a "voluntary" increase in their tax burden in 2013, collectively offering an extra 105 million euros in annual revenues to the government through 2017, when the agreement will expire. But forcing the industry to pay much more would only encourage shipping companies to move their operations offshore. "I need money to buy new ships," Vernicos explains. And if the tax rate in Greece ceases to be competitive, "the banks who finance me, they're going to say, `Mr. Vernicos, we like you, you're very good. But we cannot support you now that shipping [in Greece] is bad and you have to pay tax.'"

...

More broadly, it has become easier to secure philanthropic donations from wealthy Greeks since the crisis began, says Marilena Mamidakis, a shipping heiress who heads a charity for impoverished children and their families. Last Monday, when Greek banks shut their doors to prevent a run on deposits, she says she got a call from one of the wealthiest ship owners in Greece. "He told me, `Anything you need, anything, just ask and it's yours," she says, declining to name the caller. In quiet ways, other wealthy Greeks have been giving back, she says, including through the purchase of guns and fuel for the police force. But she acknowledges that their aid is not always commensurate with the size of their fortunes. "They could buy half of Greece," she says.

Greek Shipping Magnate Urges Tycoons To Pull Their Weight | TIME



Point n'est besoin d'espérer pour entreprendre, ni de réussir pour persévérer. - Charles le Téméraire
by marco on Fri Jul 10th, 2015 at 11:49:49 AM EST

Others have rated this comment as follows:

Display:

Top Diaries

Occasional Series