«Honest trade»: Greece will reduce pensions and tax-free limit and take debt restructuring and lower primary surplus

7 March 2017
610 Views

A new scenario has surfaced in the last hours. According to Newmarket, the French Minister of Finance Michel Sapin asked from the CEO of the Greek National Bank, Mr. Stournaras to send him analytical data on the formula the GNB has prepared for the improvement of the Greek debt profile as well as the reduction of the primary surplus to 2% instead of 3,5% starting from 2021. The idea is that the GNB plan will be accepted by the lenders and Greece will accept the lenders’ position regarding the pensions and the tax-free level.

According to EU officials on the side of the 2nd Delphi Economic Forum, this proposal could help the negotiating parties to finally conclude the evaluation.

There must be a “Staff Level Agreement” first, which must be officially confirmed on the Eurogroup of March 20th or April 7th, after which the Greek government must pass the new measures from the Parliament. These must be effective from 2019 and they will include the further reduction of pensions and the tax-free level, while the counter-measures that are meant to balance these reductions, will be effective only in case the primary surplus goes higher than 3,5%. The counter-measures will be growth-oriented.

You may be interested

The first Aegean Hawk S-70 helicopter was delivered to the Hellenic Navy by Aeroservices
GREECE
shares40 views
GREECE
shares40 views

The first Aegean Hawk S-70 helicopter was delivered to the Hellenic Navy by Aeroservices

Panos - May 07, 2021

The first upgraded Aegean Hawk S-70 helicopter was delivered to the Hellenic Navy today, Thursday 6 May. The work on…

Foreigners looking to buy Greek property amid Covid-19 pandemic
FINANCE
shares52 views
FINANCE
shares52 views

Foreigners looking to buy Greek property amid Covid-19 pandemic

Panos - May 07, 2021

Despite the pandemic, the demand for a permanent holiday home in selected destinations in Greece by foreigners is on the…

Greek Taxisnet services not available for citizens over weekend
FINANCE
shares45 views
FINANCE
shares45 views

Greek Taxisnet services not available for citizens over weekend

Panos - May 07, 2021

Online services on the Taxisnet platform system will not be available to taxpayers over the weekend due to scheduled upgrading.…

Leave a Comment

Your email address will not be published.