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Varoufakis: Creditors want wages down to 700 euro

Finance Minister Yanis Varoufakis revealed the size of pressure the Greek government and the negotiation team is exposed to by the creditors but also the creditors’ plan who insist on further austerity.

“The lenders have gone so far to demand that we reduce all wages above 700 euro down to 700 euro,” Varoufakis told tax officers who were protesting outside the Finance Ministry in Athens .

“We oppose this ruthless policy and attitude on a daily basis,” Veroufakis told protesters, adding that “negotiations are at a crucial point.”

While Varoufakis did not elaborate on the 700-euro issue, KTG assumes, that the creditors’ demand refers to wages in the public sector.

It is a fact that especially noways, civil servants earn much more than workers and employees with equal skills in the private sector.

But 700 euro per month for senior state employees? This would mean in real life, further reducing of wages in the private sector.

And I wouldn’t oppose to this if the loaf of bread and a liter of milk would cost €0.10, utilities were half their current price and heating oil or gas were …for free. Not to mention rents, transportation cost etc etc.

At the same time, decoded signs from Brussels speak of creditors demanding Value Added Tax hikes.

PS The absurd prevails in the surrealism of austerity.

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  1. Better to raise the wages to 7000 IOUs.
    Varoufakis’ voters wouldn’t understand anyhow…

    Btw: how much can the Greek economy afford to pay their civil servants? – I mean without constant fresh money from the creditors.
    Likely not much more than the Romanian or Bulgarian.

    • Giaourti Giaourtaki

      It’s not Greece’ fault that Romania and Bulgaria didn’t join the EU in 1981, the same goes out for Poland, Slowakia, Lettland and all the other “victims” in this teutonian divide and conquer propaganda show, ignoring the farty fact that Eastern Jerries still earn less than Western Krauts and that 25 years after the glorious “Wiedervereiterung” (they tricky called “Beitritt” to not pay reparations) and this is not cause they still refuse to speak proper German after all these years.

  2. Giaourti Giaourtaki

    Many billions per annum would get lost only in income taxes when. It proofs their will for total destruction as revenge for not kneeing down, the reduced minimum-wage also means high losses – beside that even the winners of “competition”, the Greek businessmen want the minimum wage get back into normal again – and the 40 years leasing of the 14 airports brings what? 1.2 billions in 40 years and just like Lidl and Mediamarkt they gonna pay their mini-taxes in Luxembourgh for their all inclusive Greek disneyland terrorism; after inflation that will mean the generously high fee of 30 million per year will equal to max 3 million in 20 years.
    I guess in their maniac logical nonsense Greeks are responsible for the many dead workers in Bangladesh cause Greeks got the nerves to not slave cheaper than them.
    If the 700 gets public we know what’s up then: Shut up, resign, don’t you talk about confident interna to normal voting folks!