Nikos Androulakis, leader of Greece’s PASOK party, unveiled the party’s seven key commitments to support small and medium-sized enterprises (SMEs) in a short social media video. Speaking directly to entrepreneurs, he framed the proposals as the foundation for revitalising Greece’s economy and strengthening domestic entrepreneurship — a sector vital to national economic output.
‘Seven Positions, One Plan’
Under the slogan ‘Seven Positions, One Plan for an Economy That Supports Those Who Work and Produce’, Androulakis stressed that the initiative is aimed squarely at hardworking business owners — those who take risks, meet their monthly obligations, and drive real economic activity. ‘This plan is for you,’ he wrote in the accompanying post. ‘For an economy that truly serves you.’
The Seven Commitments
1. A Real Second Chance for Viable Businesses: PASOK proposes a 120-installment repayment plan for all debts owed to the state and social security funds, with generous write-offs of penalties for those who complete the plan on time. It also includes reinstating full protection of primary residences under the standards of Law 3869/2010 — a landmark insolvency law introduced by PASOK in 2010. Borrowers would gain priority rights to purchase their own loans under specific conditions, and lenders would be legally required to submit restructuring proposals through the out-of-court settlement mechanism. The plan also introduces strict penalties for investment funds and loan servicers failing to comply with legislation or ignoring borrower requests.
2. An Untouchable Professional Bank Account: PASOK pledges to legally safeguard business bank accounts from arbitrary seizure, ensuring operational continuity during financial hardship.
3. Opening Up Finance for the Many: The party commits to establishing a strong Development Bank Group — upgrading the Hellenic Development Bank to provide stable, long-term financing for SMEs. It also proposes a National Wealth Fund to back major strategic investments across the country.
4. Reducing Administrative and Tax Burdens for Microbusinesses: PASOK proposes raising the VAT exemption threshold to €20,000, offering tangible relief to self-employed professionals and micro-enterprises.
5. Ending Presumptive Taxation: The party pledges to abolish this system immediately and return to income-based taxation — using modern digital tools to tackle tax evasion fairly, rather than imposing blanket measures that penalise compliant taxpayers while enabling large-scale tax avoidance.
6. Closing the Chapter on Crisis-Era Tax Burdens: PASOK commits to ending the cumulative fiscal pressures imposed during Greece’s economic crisis — though the original Greek text cuts off before detailing further specifics.