Forget about business ethics for a while and concentrate to the need of Governmental ethics. The latest report of the European auditors show important concerns regarding the reliability not only of the data presented to the official EU auditors since 90's but also reported serious remarks regarding the ethics standard of Greece's political system. It does not add any value now (because its too late) to extend the reasons behind the situation and the magnitude of the notorious effects of that malpractice of politics at the birthplace of democracy since they are obvious now. However, it adds value to present certain ideas that may be helpful under the prospect of the upcoming national restructuring of the "Kyklopean" public governance which has been named before birth "Kallikratis".

 1) Specialised Auditors called Ethics Officers can be employed in every municipal authority and in every ministry or other governmental office.

For that reason I hereby present a piece of explanation of that specialisation from wikipedia:

Ethics officers

Ethics officers (sometimes called "compliance" or "business conduct officers") have been appointed formally by organizations since the mid-1980s. One of the catalysts for the creation of this new role was a series of fraud, corruption and abuse scandals that afflicted the U.S. defense industry at that time. This led to the creation of the Defense Industry Initiative (DII), a pan-industry initiative to promote and ensure ethical business practices. The DII set an early benchmark for ethics management in corporations. In 1991, the Ethics & Compliance Officer Association (ECOA) -- originally the Ethics Officer Association (EOA)-- was founded at the Center for Business Ethics(at Bentley College, Waltham, MA) as a professional association for those responsible for managing organizations' efforts to achieve ethical best practices. The membership grew rapidly (the ECOA now has over 1,100 members) and was soon established as an independent organization.

Another critical factor in the decisions of companies to appoint ethics/compliance officers was the passing of the Federal Sentencing Guidelines for Organizations in 1991, which set standards that organizations (large or small, commercial and non-commercial) had to follow to obtain a reduction in sentence if they should be convicted of a federal offense. Although intended to assist judges with sentencing, the influence in helping to establish best practices has been far-reaching.

In the wake of numerous corporate scandals between 2001-04 (affecting large corporations like Enron, WorldCom and Tyco), even small and medium-sized companies have begun to appoint ethics officers. They often report to the Chief Executive Officer and are responsible for assessing the ethical implications of the company's activities, making recommendations regarding the company's ethical policies, and disseminating information to employees. They are particularly interested in uncovering or preventing unethical and illegal actions. This trend is partly due to the Sarbanes-Oxley Act in the United States, which was enacted in reaction to the above scandals. A related trend is the introduction of risk assessment officers that monitor how shareholders' investments might be affected by the company's decisions.

The effectiveness of ethics officers in the marketplace is not clear. If the appointment is made primarily as a reaction to legislative requirements, one might expect the efficacy to be minimal, at least, over the short term. In part, this is because ethical business practices result from a corporate culture that consistently places value on ethical behavior, a culture and climate that usually emanates from the top of the organization. The mere establishment of a position to oversee ethics will most likely be insufficient to inculcate ethical behaviour: a more systemic programme with consistent support from general management will be necessary.

The foundation for ethical behavior goes well beyond corporate culture and the policies of any given company, for it also depends greatly upon an individual's early moral training, the other institutions that affect an individual, the competitive business environment the company is in and, indeed, society as a whole.

 2) Extended use of outsourcing (not privatisation) in order to put down cost instantly (within 2010) in public services.

 Again from wiki:

Outsourcing involves the transfer of the management and/or day-to-day execution of an entire business function to an external service provider.The client organization and the supplier enter into a contractual agreement that defines the transferred services. Under the agreement the supplier acquires the means of production in the form of a transfer of people, assets and other resources from the client. The client agrees to procure the services from the supplier for the term of the contract. Business segments typically outsourced include information technology, human resources, facilities, real estateaccounting. Many companies also outsource customer support and call center functions like telemarketing, CAD drafting, customer service, market research, manufacturing, designing, web development, print-to-mail, ghostwriting and engineering. management, and

Offshoring is outsourcing in which the buyer organization belongs to another country. Outsourcing and offshoring are used interchangeably in public discourse despite important technical differences. Outsourcing involves contracting with a supplier, which may or may not involve some degree of offshoring. Offshoring is the transfer of an organizational function to another country, regardless of whether the work is outsourced or stays within the same corporation/company.With increasing globalization of outsourcing companies, the distinction between outsourcing and offshoring will become less clear over time. This is evident in the increasing presence of Indian outsourcing companies in the United States and United Kingdom. The globalization of outsourcing operating models has resulted in new terms such as nearshoring, noshoring, and rightshoring that reflect the changing mix of locations. This is seen in the opening of offices and operations centers by Indian companies in the U.S. and UK. A major job that is being outsourced is accounting and preparation of tax returns.

Multisourcing refers to large outsourcing agreements (predominantly IT).Multisourcing is a framework to enable different parts of the client business to be sourced from different suppliers. This requires a governance model that communicates strategy, clearly defines responsibility and has end-to-end integration.

Strategic outsourcing is the organizing arrangement that emerges when firms rely on intermediate markets to provide specialized capabilities that supplement existing capabilities deployed along a firm’s value chain. Such an arrangement produces value within firms’ supply chains beyond those benefits achieved through cost economies. Intermediate markets that provide specialized capabilities emerge as different industry conditions intensify the partitioning of production. As a result of greater information standardization and simplified coordination, clear administrative demarcations emerge along a value chain. Partitioning of intermediate markets occurs as the coordination of production across a value chain is simplified and as information becomes standardized, making it easier to transfer activities across boundaries.

 3)  Select an island or an area that has access to the sea (for geopolitical purposes) to become a destination of privileged tax obligation in others words a special Economic Zone. That would boost up our attraction of dynamic companies and will improve Greece's competitiveness.

Check the example of the Canary Islands and check out their ranking in the annual world's list tourist destinations:

General Information About the Canaries

The Canaries form an archipelago made up by seven main islands, located in the Atlantic Ocean near the Tropic of Cancer, near the African coast of Western Sahara. The islands stretch in an East-West 500 Kms arch. The latitude of the Canaries is in the subtropical zone, being the same as that of Orlando, Florida. The climate of the Canaries, however, is tempered by the surrounding ocean.

The Canary Islands are an integral part of Spain; this has been so for more than 500 years, and a huge majority of Canarians have confirmed their status repeatedly over time. The language of the Canaries is Spanish (Castilian), but the accent is more like the Spanish spoken in the Caribbean.

The Canaries form an "Autonomous Community" within the Kingdom of Spain. The islands have their own Government, Parliament and Administration, established by the Statute of Autonomy of the Canary Islands. The Canarian fiscal and economic system is different from the general Spanish one, which is in force in the major part of the Mainland.

As a part of Spain, the Canaries are also part of the European Union. However, the islands enjoy some exceptions in the fiscal and economic area.

The currency in the Canary Islands is the euro, as in Spain.

The Parliament of the Canaries is in Santa Cruz de Tenerife; the delegation of the Spanish Government in the Canaries is in Las Palmas de Gran Canaria, with a sub-delegation in Santa Cruz de Tenerife; the Supreme Court of Justice of the Canarie is in Las Palmas de Gran Canaria.

The Supreme Court of Justice exercises the judicial power. Appeals against its resolutions are to the Supreme Court and the Constitutional Court of Spain.

The Special Tax Regime (REF)

Although mainland tax regulations apply in the Canaries, companies operating there are also eligible for special tax incentives (the Special Tax Regime or REF). Key features of the REF are as follows:

• VAT is not applied in the Canary Islands; instead there is a specific Sales Tax (IGIC) which has a general rate of 5%. In addition to increased and reduced rates of IGIC, there is a zero tax rate for certain basic need products and services (eg telecommunications).
• Exemptions from duty on capital increases.
• The use of undistributed profits to reduce the taxable base provided that the amounts concerned are invested within three years in certain qualifying fixed assets or public stock.
• Enhanced tax credits for various types of investment.

The Special Economic Zone (ZEC)

The Canary Islands Special Zone has been created within the fiscal and economic regime of the Canary Islands for the purpose of encouraging the economic and social development of the islands and the diversification of their manufacturing and service sectors.

The ZEC was initially The Canary Islands Special Zone authorised by the European Commission in January 2000.

In early 2006, the Department of Economic Affairs and Finance of the Canary Islands Government suggested the introduction of improvements to the Canary Islands Economic and Fiscal Regime, including the extension of the time frame of the low tax zone beyond 2008 of 25 years for companies in the service sector and 50 years for companies operating in the industrial sector.

In addition, a suggestion has been made for solving the problems related to double taxation on profits. This modification aims to make the ZEC a real stimulus for attracting companies with newly-created economic activity. At present, companies with their head office in mainland Spain are subject to double taxation on profits, which makes it difficult for them to set up in the low tax zone.

Following the announcement of an extension in December 2006, the benefits provided by the ZEC will initially be available until December 31, 2019, although this may be further extended if the European Commission authorises it.

Any company intending to carry out manufacturing, commercial or service activities within the territory of the Canary Islands may register in the ZEC; financial services are excluded.

Permitted manufacturing, processing, handling and goods distribution activities include:

• Fishing;
• Food, beverages and tobacco;
• Clothing;
• Leather goods and footwear;
• Furniture and related products;
• Paper, publishing, graphic arts and reproduction of recorded material;
• Building materials;
• Machinery and mechanical equipment;
• Electrical, electronic and optical materials and equipment;
• Chemicals;
• Recycling;
• Wholesale and distributive activities;
• Packaging, bottling and canning

Permitted service activities include:

• Transport and related activities;
• IT;
• Natural resources and waste disposal;
• Telecommunications;
• Advertising;
• R + D;
• Education and Training;
• Consultancy;
• Legal and fiscal services;
• Other services

Service companies registered under the ZEC may be set up in any part of the Canary Islands.

Production, processing, handling and distributive activities must be located in certain Designated Areas at:

• On the island of Grand Canary
  • The Port of La Luz and Las Palmas
  • Gando Airport
  • The Arinaga Industrial Estate

• On the island of Tenerife:
  • The Port of Santa Cruz de Tenerife
  • Los Rodeos and Reina Sofía Airports
  • The Granadilla Industrial Estate

There are Designated Areas on each of the other Canary Islands.

Any Company wishing to set up in the ZEC must satisfy a number of requirements, of which the most important are:

• A ZEC Company must be newly incorporated;
• At least one of the persons authorised to manage and act on behalf of the Company must be resident in the Canary Islands;
• A ZEC Company must make an investment of at least EUR100,000 (EUR50,000 in some locations) in fixed assets related to the activity within the first two years subsequent to authorisation;
• A ZEC Company must employ at least five persons (reduced to three in some locations) in the ZEC area within the first six months subsequent to authorisation and must retain this number of employees, on average, throughout its lifetime;
• A ZEC Company must present a description of its activities, with particular mention of its economic viability, international focus, contribution to the economic and social development of the Canary Islands and solvency.

Taxation of ZEC Companies

ZEC companies enjoy the following tax benefits:

• Corporation tax (levied in Spain at 30%) is charged at 4% on profits derived from ZEC activities. The rates depends on:
  • Net creation of employment;
  • The period of inclusion in the Register of ZEC Companies;
  • Whether the activity is new or pre-existing;
  • The type of activity

• ZEC companies are exempt from Capital Transfer Tax and Stamp Duty in the following circumstances:
  • Purchase of goods and rights for the conduct of the business activity of the ZEC company within the geographical area of the ZEC;
  • Company operations except liquidation;
  • Stamp duty on documents connected with the company’s operations in the geographical area of the ZEC

• ZEC companies are exempt from Canarian Indirect General Tax (Canarian Sales Tax) on delivery of goods and provision of services from one ZEC Company to another, and on imports.
  
• International Double Taxation Treaties and the EU Parent-Subsidiary Directive: the Canary Islands are an integral part of the territory of Spain and the European Union. Therefore ZEC companies may take advantage of Double Taxation treaties signed by Spain and the EU’s Parent-Subsidiary Directive. ZEC Companies are not obliged to deduct tax from payments for tangible assets made by them.