The debt crisis in Europe have affected business

The slow death of European entrepreneurs

In brief: The debt crisis and recession in the Old World had influenced in negative way on the development of European business.

European Business Association (EBA), with over 750 companies, mainly from the western capital, yesterday announced the results of evaluation of its members of the first 100 days of the new government. The actions of the Cabinet were evaluated on seven criteria: overcoming corruption, judicial reform, land reform, currency regulation, compensation for VAT, customs procedures, technical barriers to trade.

Employers recognize that they did not expect significant reforms only 100 days, and the only positive change is the currency regulation – there was a stabilization of the hryvnia. However, this area does not regulate Cabinet and National Bank, whose leadership has not changed. In several other areas in the EBA indicated some deterioration. “With regard to compensation of VAT, then half of our members believed that the situation has not changed, remaining fixed its deterioration,” – said Executive Director Anna EBA Derevianko. The volume of debt on VAT refund is 29 billion UAH. In addition, the complicated filing tax returns and passing customs control.

Igor Tringlers
2010-06-12 17:44, Economics.

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