in ,

This is the end? Greece’s final recommendations to creditors…listed

According to various press reports, Alexis Tsipras will present the following, final recommendations, to the Brussels oligarchs (via Bloomberg):

  • Greek plan to unlock bailout funds includes proposal to eliminate early retirement options starting from Jan. 1, 2016, a Greek government official says, asking not to be named.
  • Plan includes levy on companies with more than €500,000 in annual profits
  • Plan includes increase in “solidarity levy” for individuals earning more than €30,000/yr
  • Creditors ask permanent fiscal measures equal to 2.5% of GDP, Greece proposes measures equal to 2%/GDP; proposes to cover difference of 0.5%/GDP with “administrative measures”
  • Greek govt would agree to target demanded by creditors for 1%/GDP primary budget surplus
  • Greek govt insists on 3 bands for VAT rates; creditors want 2 bands; Greek govt proposes to move more products to higher band of 23%, in order to cover fiscal gap
  • Greek govt has proposed zero deficit clause, debt break for Greek budget; clause would include automatic spending cuts in case threshold is breached
  • Greek govt would be willing to adopt additional fiscal measures, if agreement with creditors includes commitment to debt relief

Varoufakis is confident a positive outcome will come on Monday in Brussels.

“By nature, I am an optimist,” said Yanis Varoufakis. “Tomorrow we’re going for a deal,” he said.

References:

http://www.newsbomb.gr/politikh/news/story/598838/pro-ton-pylon-i-politiki-symfonia-aytes-einai-oi-telikes-protaseis-toy-al-tsipra

Liked it? Take a second to support The Duran on Patreon!

Report

What do you think?

6
Leave a Reply

avatar
0 Comment threads
0 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
0 Comment authors
Recent comment authors
  Subscribe  
newest oldest most voted
Notify of

Why America will never let Greece leave the Eurozone. Merkel will fold like origami to Greek demands

Showdown in Brussels. Greek PM Tsipras ready to strike a deal on his terms. EU will try one last time to scare Greece into submission