Strict supervision; pension cuts, lower tax-free income ceiling cited in Commission’s supplemental MoU for Greece

24 May 2018
830 Views

The European Commission’s 40-page ” Supplemental Memorandum of Understanding” for Greece was posted on Thursday morning, highlighting what it called the “implementation of agreed policies for several years”, and in relation to what it terms technical assistance that will continue to be extended to the crisis-battered country.

The document was dated May 23, 2018.

Other highlights include:

a commitment, by Greek governments, to annual primary budget surpluses of 3.5 percent (as a percentage of GDP) until 2022

continuing implementation of agreed to reforms over the long term

maintaining a clause that implements a reduction in the annual tax-free income ceiling as of Jan. 1, 2019, rather than a year later, something demanded by the IMF

In terms of another political “hot potato” the poll-trailing Tsipras coalition government is now trying to handle, i.e. another round of pension cuts, the document notes:

“… pension reform to be implemented in 2019, delivering net savings of 1% of GDP in 2019

– 2022 and a personal income tax reform to be implemented in 2020 and delivering net savings of 1% of GDP in 2020, 2021 and 2022 …”

You may be interested

Greece: 7,000 applications for adult movies
GREECE
shares22 views
GREECE
shares22 views

Greece: 7,000 applications for adult movies

Panos - Jun 23, 2021

After the first casting of the newly formed production company SugarBabes.tv in September 2019 and the endless queues of about…

Menendez Bill passed unanimously & goes to Senate for approval
DEFENCE
shares13 views
DEFENCE
shares13 views

Menendez Bill passed unanimously & goes to Senate for approval

Panos - Jun 23, 2021

The new bill on US-Greek defense cooperation was approved by the Senate Foreign Relations Committee with universal support. Now the…

Signatures for Line 4 of the Metro – Mitsotakis: The country is turning the page (videos)
FINANCE
shares18 views
FINANCE
shares18 views

Signatures for Line 4 of the Metro – Mitsotakis: The country is turning the page (videos)

Panos - Jun 23, 2021

The signatures for the biggest construction project that is taking place after Attiki Odos, fell tonight in Galatsi, where in…

Leave a Comment

Your email address will not be published.