Is Merkel trying to undermine Greece’s shipping companies?

Is Merkel trying to undermine Greece’s shipping companies?

While Greece’s shipping companies are set to pay higher taxes under the terms of the third bailout, Germany s shipping companies can look forward to cuts in taxes, it has emerged.,maritimekonferenz138.html

Among the significant tax relief measures just announced by Germany’s Chancellor Angela Merkel is an exemption from income tax for employees of German shipping companies.

The result of this unfair tax exemption will be that German shipping companies will become more competitive and, so, ‘ be in a better position to to take control of at least some of the business currently conducted by Greece’s shipping companies.

Any indication that the German goernment is hammering Greece and other European countries in order to allow German companies to take over segments of their economies is going to result in a backlash. Merkel would be wise to stay away from any measure which even gives rise to the suspicion her government is taking advantage of Greece’s economic troubles to advance Germany’s interests or that Merkel is allowing German companies to do so.

Greece needs jobs. Greece’s shipping companies need to remain competitive enough to provide jobs.

In addition, the weaker the Greece’s economy becomes, the greater the pressure on the German tax payer. The taxpayer s choice will be either to pay huge sums to Greece to subsidize interest payments on the national debt, created essentially system of the private creation of money, or to pay huge sums to deal with a humanitiarian crisis resulting from the debt crisis.

Leave a Reply