Liberal Alliance press release 07.05.08
Following an appeal by Liberal Alliance (Greek Liberals), the European Commission, issued a notification to the Greek Government, stating that the Greek law no 3631/2008, forbidding Individuals or Private companies to acquire shares valued more than 20% in state companies without governmental license, does not comply with EU law.
In its letter, the Commission notes that 3631/2008 Act does not comply with article 56 of European treaty about free capital movement and article 43 about freedom of establishment. The Commission accepts the arguments stated in Liberal Alliance's appeal to the committee at 20th February 2008. Liberal Alliance acknowledges with satisfaction, the Commissions' position against this law, which obstructs the privatization of state companies and limit free markets in Greece.
Liberal Alliance will continue to campaign, taking legal action if necessary, for the overthrow of State-funded economic and the associated political system, which creates unemployment, corruption, and holds back investments, forcing young people to stagnation.
History
-7th December 2007:The Greek Minister of Finance submits the Act to the Greek Parliament, which forbids private companies and individuals to acquire more that 20% of state companies shareholdings without Government's approval.
-9th December 2007: Liberal Alliance issues a letter appealing to EU Commission for its intervention as the new act infringes upon the basic articles of the European treaty about freedom of Capital movement.
-15th January 2008: Greek Parliament votes in favor of 3631/2008 Act.
-6th February 2008: Commissioner McCreevy responds to Liberal Alliance with a letter noting “ I fully understand and share your worry about the consequences to the freedom of capital movements in European Union“.
-20th February 2008: Liberal Alliance submits additional evidence to the EU Commission, to support that the 3631/2008 Act constitutes an infringement of article 56 about freedom of movement but also breakage of article 43 about freedom of settlement.
-7 May 2008: European commissioner McCreevy contests the validity of 3631/2008 Act.
Following an appeal by Liberal Alliance (Greek Liberals), the European Commission, issued a notification to the Greek Government, stating that the Greek law no 3631/2008, forbidding Individuals or Private companies to acquire shares valued more than 20% in state companies without governmental license, does not comply with EU law.
In its letter, the Commission notes that 3631/2008 Act does not comply with article 56 of European treaty about free capital movement and article 43 about freedom of establishment. The Commission accepts the arguments stated in Liberal Alliance's appeal to the committee at 20th February 2008. Liberal Alliance acknowledges with satisfaction, the Commissions' position against this law, which obstructs the privatization of state companies and limit free markets in Greece.
Liberal Alliance will continue to campaign, taking legal action if necessary, for the overthrow of State-funded economic and the associated political system, which creates unemployment, corruption, and holds back investments, forcing young people to stagnation.
History
-7th December 2007:The Greek Minister of Finance submits the Act to the Greek Parliament, which forbids private companies and individuals to acquire more that 20% of state companies shareholdings without Government's approval.
-9th December 2007: Liberal Alliance issues a letter appealing to EU Commission for its intervention as the new act infringes upon the basic articles of the European treaty about freedom of Capital movement.
-15th January 2008: Greek Parliament votes in favor of 3631/2008 Act.
-6th February 2008: Commissioner McCreevy responds to Liberal Alliance with a letter noting “ I fully understand and share your worry about the consequences to the freedom of capital movements in European Union“.
-20th February 2008: Liberal Alliance submits additional evidence to the EU Commission, to support that the 3631/2008 Act constitutes an infringement of article 56 about freedom of movement but also breakage of article 43 about freedom of settlement.
-7 May 2008: European commissioner McCreevy contests the validity of 3631/2008 Act.
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