Measures to restore business damage to the earthquake-stricken islands

The recent strong seismic phenomena on the southeast side of the Aegean Sea, with a focus on the island of Kos, pose serious problems to the local economy and businesses, at a juncture that coincides with the peak of tourist arrivals on the island. The government, the scientific and productive organizations ought to ensure the smooth adaptation of Kos’s economic and social life and the resolving of problems in their generation so that it will soon return to normal.

It is clear that such phenomena create serious sustainability problems for small businesses and their families, while making it difficult for the public administration to function properly and to serve the citizens. It should be noted that at this stage, the rehabilitation of the port infrastructure is a priority, to serve the citizens and tourists. Unfortunately, the problem is exacerbated by the financial difficulties of local communities and the lack of funding pillars for emergencies.

GSEVEE, with a letter to the Minister of Finance, Mr. E. Tsakalotos, Minister of Labor, E. Achitsoglou, Minister of Infrastructure & Transport Mr Chr. Spitzis, G. Hadjimarkos Regional Governor of the South Aegean and Mr. Kos Kyrtsis Mayor Kos, stresses the need to restore economically and socially the economic and social life, assuming that it is a given responsibility of the state and a sign of solidarity to restore the damage to Affected areas.

To this end, the General Confederation calls on the government to take all necessary measures to address these extraordinary needs. Following the Confederation’s proposals, as well as the framework of regulations that have taken place in similar cases in the past, GSEVEE stresses the need to promote the following interventions in all the affected areas (Kos), some of which should have a permanent institutional and legal Power:


[1] Creation of a one stop emergency shop to collect and search for documents and documents on its own since many public services are under-exploited while entrepreneurs do not have the time to deal with all bureaucratic issues . This service may be of a permanent nature and operates in extraordinary circumstances throughout the territory.

[2] Immediate recording and reimbursement of privately-owned commercial property on the basis of its value and not the statutory minimum construction cost. Rent subsidy for all professionals who hire or be forced to hire (one year grant)

[3] Compensation for damaged goods and raw materials based on market rates. If it is not possible to find a presumption invoice to be indicative of current prices.


[1] 2 months extension for the payment of the first installment of the tax for Kos residents (expiring on 31 July 2017).

[2] For those professionals who have been proven to have suffered an exemption (and not just a suspension) from contributing to the EMPHA for a two-month period and transferring insurance time with a full right to health insurance.

[3] Exemption from the payment of the business fee for all the region’s entrepreneurs for the current year. Exemption from payment of fees until the end of the year.

[4] Providing possibility to settle for debts to tax and social security funds. For those who have settled arrears, it is proposed to postpone the settlement and freeze for 6 months.


[1] Suspension of payment of installments for loan liabilities of enterprises and households, in cases where losses were recorded. After valuation of losses, equalization of debt impairment. At the same time, consideration should be given to providing facilities with low-interest loans for those wishing to reinvest in the business (rebuilding, purchase of products, relocation and so on)

[2] Extension to Mandatory Implementation of the MOU for the acquisition of electronic payment instruments.

[3] Special arrangement – extension for overdue checks (until the end of the year)

[4] Immediate payment of amounts resulting from private insurance of buildings and goods.

[5] Facilitation and partial liberalization of capital controls for businesses operating in the affected areas.

[6] Creation of public-private partnerships as a permanent crisis mechanism, with the development of crowd financing tools to restore damage to public infrastructure (ports, roads)


[1] Extending the social tariff to businesses and households in the affected areas for a period of one year

[2] Immediate rehabilitation of infrastructure is a basic prerequisite for restarting a normal economic and social life.

[3] Liberation of resources from European Social Fund programs to make good the damage.

[4] Special access to social services and benefits for affected families (nurseries, home help, health care).