Akis Skertsos took a swipe at Alexis Tsipras over his so-called “patriotic levy” proposal, using the decision of Chris Rokos — founder of Rokos Capital Management, which manages $22 billion in assets — to relocate his tax residency to Greece due to high taxation in the United Kingdom. The Minister of State commented with thinly veiled sarcasm: “It seems (fortunately) that Mr. Rokos did not catch Mr. Tsipras’s speech…”, arguing that this particular case illustrates why, in his view, tax proposals of this kind are simply unworkable in a globalized economy.
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Skertsos: “Half-baked ideas like the patriotic levy don’t stand a chance”
In his post, the Minister of State directly links Chris Rokos’s decision to the broader debate that has been opened around the taxation of higher incomes and wealth.
“But seriously, this story speaks for itself as to why half-baked ideas — like Mr. Tsipras’s patriotic levy — don’t stand a chance in today’s world. Capital always has found, and will continue to find, ways to move freely in a globalized economy whenever it determines that the investment and tax environment is not favorable,” he stated. Akis Skertsos argues that the opposition must answer for what he describes as a “fundamental contradiction” at the heart of its public discourse.
Comparing Greece’s investment levels with Europe
According to figures cited by the minister, investment in Greece stood at 11% of GDP in 2019 and has risen to 17% in 2026, while the European Union average sits at 20–21%. “On one hand, the opposition criticizes the government for the investment gap that still separates us from the rest of Europe — investments were at 11% of GDP in 2019 and stand at 17% in 2026, while the EU is at 20–21% — while at the same time proposing unworkable policies whose only possible effect would be to drive investment capital, incomes, and assets out of the country,” he noted.
In the minister’s view, efforts to close the investment gap are fundamentally incompatible with tax policies that could, as he argues, push capital out of Greece.
“Greece must remain a more attractive investment destination”
Akis Skertsos argues that Greece needs to maintain a competitive investment and tax environment for several more years in order to attract greater capital inflows and surpass the target of investment exceeding 20% of GDP.
“Greece must remain, for many years to come, a more attractive and competitive investment destination compared to other countries — with the goal of drawing in more capital so that we can exceed the investment target of >20% of GDP and become a country of higher incomes. That means we must maintain a tax mix that is business-friendly and certainly no less favorable than that of other countries,” he stated.
The minister concluded by linking the attraction of both Greek and foreign investment directly to increased prosperity and reduced social inequality: “The quantity and quality of foreign and Greek investment that we are able to bring into the country is what will determine both the well-being of citizens and the reduction of social inequalities. Not overtaxing them.”
