The Union of Greek Shipowners (UGS) has threatened the European Union (EU) with a shipping “Grexit” due to an ongoing investigation on the country's tax regime.
Theodore Veniamis, president of UGS, said in the union’s annual report that “the perpetuation of the investigation into the Greek shipping institutional framework, by the services of the Directorate-General for Competition of the European Commission, leaving a shipping community which represents 50% of the EU fleet in capacity, places half of the European shipping at risk.”
