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Greek Fin Min Announced the Austerity Measures

Greece Finance Minister George Papaconstantinou announced in a press conference on Friday the additional austerity measures that will drive to despair millions of Greeks. Fast Track austerity or Fast Track poverty. Read some of the measures that will hit the pockets of the average Greek or even Foreigner who pays taxes in Greece. Weird enough the Mid-Term Stability Programme contains not one single measure to boost development and growth, not a single word as to how  the jobless live.

Layoffs in the public administration (reduction at 25%) and “labor redundancy” (= civil servants will stay at home and recieve 70% of their salary!)

“Poll Tax” of  1%-3% or 4% for  employees in public and private sector as solidarity contribution for the jobless, for 2+2 years.

Special tax on bank transactions.

Special contributions for owners of vehicles, real estate properties, boats* and swimming pools* (*only for 2011)

Special constributions for pensioners under 60 years old receiving over 1,700 euro/month

Reduction of 10% on gratuities and cuts in secondary pensions.

Specal Tax on natural Gas

Value Added Tax Hike from 13% to 23% on  restaurants consumption as from September 2011 – VAT hikes in beverages.

Extra contribution on properties, 0.1%-0.2%

Cuts in social allowances.

New taxation law in upcoming fall.

….and of course, fast track privatization of state assets.

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One comment

  1. The more taxes you pay – the more they will streal – submarines, airplanes, tanks, security systems, anything that involves a kickback. So sad as I can see no good coming out of this – this is definitely not the road to recovery – just a deeper hole from which there will be no pretty return – see this: