Abstract
We showed analytically the legal framework, which Greek flag administration established since 01/01/1953 with the long celebrated law of 2687/1953 for ships greater than 1500 GRT. All Greeks believe that this institutional framework contributed a lot to the expansion of Greek-flagged shipping. We also presented the tonnage tax payable by a Greek-flagged ship, with suggestions to modify it in a more proper manner. We dissolved the myth that Greek flag is a quasi or a flag-of-convenience, where ships do not pay taxes. We have stressed a number of facts: 1) the role that a Government plays vis-a-vis national shipping; 2) the freedom of actions which shipping needs; 3) the best legal framework required by shipping: in having permanency, being expandable as time goes by, protected by country’s constitution, modified to provide more favorable terms and all these are legislated by 2 ministers outside parliament in a fast way to be ahead of any shipping crisis like that in 1981-1987. Law 2687 and “the ship registration approval action” are the products of a long traumatic experience—except in 1946—that Greek-flagged shipping had since 1830 from various governments—including that of El. Venizelos—and from 2 world wars.
Highlights
We showed analytically the legal framework, which Greek flag administration established since 01/01/1953 with the long celebrated law of 2687/1953 for ships greater than 1500 GRT
We dissolved the myth that Greek flag is a quasi or a flag-of-convenience, where ships do not pay taxes
We have stressed a number of facts: 1) the role that a Government plays vis-à-vis national shipping; 2) the freedom of actions which shipping needs; 3) the best legal framework required by shipping: in having permanency, being expandable as time goes by, protected by country’s constitution, modified to provide more favorable terms and all these are legislated by 2 ministers outside parliament in a fast way to be ahead of any shipping crisis like that in 1981-1987
Summary
Law (2687) wished to attract ships, and wanted to invite foreign capital, and to care for its safety after it has been imported into the country; as a result law’s title was: for “investment and insurance of capital from abroad”. We have to point out policies aiming at attracting foreign exchange inflow ($ or £) were and are important for Greek economy, suffering the whole post war period from an adverse trade balance.
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