Investments and new jobs from the Siemens settlement

Based on the authorization given by the parliament, Finance minister Yannis Stournaras signed the compromise agreement between the Greek government and the Siemens AG and Siemens SA companies. 

As pointed out by the Finance ministry statement, the Greek government achieves significant financial benefit through positive actions and a range of benefits. Specifically, under the agreement Greece will receive: 

1. 80 million euros to offset equal amounts of SIEMENS claims against various public bodies 

2. 90 million euros for 5 years, to fund: 

- organizations that serve the public interest and are designed to combat corruption, fraud and money laundering

- academic and scientific research programs aimed at improving knowledge and skills in the areas of energy, health, industry, infrastructure and urban development

- 100 scholarships each year for postgraduate studies in the fields of energy, health, industry, infrastructure and urban development through the State Scholarship Foundation (IKY)

- medical equipment (including its delivery, installation and maintenance) for public hospitals, with an emphasis on pediatric hospitals

 

3. A 100-million-euro investment in SIEMENS Greece in 2012, to ensure its continued presence and activity as it currently employs more than 600 people 

4. Investment to build a new plant of over 60 million euros in Greece, which will result in employing more than 700 people 

Apart from the reported benefits of this settlement, via this agreement, SIEMENS: 

- will continue to provide all possible support to the Greek authorities, when requested, in relation to the ongoing investigation against individuals who have been involved in the case

- takes responsibility for the payment of legal costs of this case, which have burdened the Greek State

- for a period of up to 3 years from the commencement date of the agreement, it will enter a corporate compliance program under a commissioner appointed by the Greek State

 

Reactions by SYRIZA, the Democratic Left and Independent Greeks 

SYRIZA parliamentary spokesman D. Papadimoulis denounces the fact  that "the extrajudicial settlement of the Greek government with Siemens, signed on Thursday after a five-month delay and bizarre machinations, is another scandal within the wider scandal." 

Papadimoulis adds that this development favors Siemens in the context of a huge scandal that damaged the Greek State by 2 billion euros, and that it suits the complicit parties, PASOK and ND, that organized the concealment and the settlement and have now applied the finishing touches." 

Democratic Left president Fotis Kouvelis expressed his categorical opposition to the "settlement agreement" between Greece and the Siemens AG and Siemens AE companies. 

As the Democratic Left states, by signing this agreement "we cannot resolve an enormous political and economic issue that rightfully occupies Greek society as a case of corruption and insulting the public interest."

"According to the unanimous conclusion of the relevant parliamentary committee, the Greek State was damaged by at least 2 billion euros. There are no equivalent benefits in this settlement agreement," the Democratic Left notes, adding that fighting corruption is cannot be leveraged with "agreements of economic conciliation." 

The Independent Greeks characterize this agreement as "disgraceful and illegal", while about Stournaras they say he will be "checked by parliamentary means and more" as he signed off, giving everything to the German side. "He proceeded to this specific action, though he knew that the relevant parliamentary inquiry committee has concluded that Siemens, using bribery to win competitions, damaged the Greek State by at least 2 billion euros."