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tagged: debt, George Papaconstantinou, Greece, new austerity package, new taxes, new wages cuts, privatization list, state-run enterprisesNew Austerity Package brings New Taxes and New Wages Cuts
Posted by keeptalkinggreece in Economy
“Special Tax” – this is the magic spell to fill every hole in the Greek debt barrel. In a , what the Greek press describes as ‘dramatic cabinet meeting’ under the chairmanship of prime minister George Papandreou, the FinMin managed to push for approval a new austerity package before Greece’s lenders pull the carpet under 11 million pair of Greek feet.
According to information as given by the Greek media the new measures will include:
- Special Cosnumption Tax to beverages
-Heating Oil Tax will be equal to Vehicles Fuel Oil
-Special Consumption Tax to Natural Gas ( the second within a year)
-Cars levy increase
-Cut of overtime payments and some allowances in the public administration.
-Special Contrubution from the secondary pensions
-Privatization express for Post Bank, Piraeus Port Authority, Thessaloniki Port Authority, Water Company Thessaloniki, Greek Telecommunication Company OTE, and the Parnitha Casino.
According to Bloomberg also Greek Natural Gas Company (DEPA) and Lottery/Gambling company OPAP will be privatized as well.
I will keep you updates if /when more details and percentages come up.
However, don’t think the game is over. This package is only a part, a first part of the medium term plan Greece will follow for the years 2011-2015.
As far as I can recall the FinMin George Papaconstantinou has been assuring the Greeks of no new taxes, to new wages cuts. Hello? Anybody there?
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