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The Hellenic Radio (ERA): News in English, 10-03-14

The Hellenic Radio (ERA): News in English Directory - Previous Article - Next Article

From: The Hellenic Radio (ERA) <>


  • [01] Crucial Week for Greece's Economy

  • [01] Crucial Week for Greece's Economy

    Sunday, 14 March 2010 17:33

    Meetings of Eurogroup and Ecofin on Monday and Tuesday to evaluate Growth and Stability Plan are considered crucial for Greece's economy. Angel Gurria,general secretary of the OECD (Organization for Economic Cooperation and Development) is in Athens to meet with Finance Minister G. Papakonstantinou. The question is whether there is plan for financial aid mounting to 25 billion euros, either direct loan from EU member states under the coordination of EU Commission or granting guarantee on loans as recent articles in European Press write despite the Commission's denial on Saturday. In the meantime new VAT rates come into force on Monday, expected to bring rises in a number of products

    Concern over Impact of Rises in VAT Rates

    Rises in VAT spread fear that prices of several products will go up which is a new burden on the family budget. Greece ranks 4th among EU countries with the highest VAT rate while the challenge for the Finance Ministry is to restrain prices when inflation rate is going up.

    "Employees must not compromise with the new taxation robbery, rise in VAT rate. On the contrary they must escalate their struggle for real rises in salaries and pensions and claim drastic reduction in VAT rates and its abolition in broad consumption goods such as DEH (power), water and fuel" says GCP announcement.

    LAOS party spokesman K. Aibaliotis comments: "Social and labour conditions are not the same as the recent past, a fact that the government must make clear to Greek workers. Unfortunately, greediness of unionists and those ruling the country led the situation to "no further". Lets hope that big sacrifices of Greek people bear fruit and are not wasted in wrong planning's".

    SYN president Alexis Tsipras spoke of recession in government's policy and new anti-popular measures and called social and political forces to a broad resistance.

    PASOK Senior Members Comment on Measures

    Deputy president Theodoros Pagalos described Prime-minister G. Papandreou recent international contacts as benefactory for Greece and contribution to the management of global economy, underlining that it was shown that the euro was defenseless against speculators' centers. In an interview with "Real News" he ruled out Oli Rehn proposals for salary cuts in the private sector while he reproached PASOK senior members who open interior party fronts.

    Some articles in the new draft-bill on social security reforms such as gradual increase in retirement age will be put into force immediately says Employemnt Minister A. Loberdos in an interview with "Eleftheros Typos" newspaper, making clear that this will not have impact on ones having established right for retirement till 2013. Mr. Loberdos described as paranoid cut of 14th salary in the private sector as this would bring up deficits in social security funds.

    Defense Minister E. Venizelos in an interview with "Bima" paper said that there is no room for additional measures, stressing the need for further cuts in public expenditures, rapid implementation of the new taxation system, reforms in social security system and utilization of state assets.

    Minister for Infrastructure Dimitris Reppas proposed imposition of special over 10% contribution in incomes higher to 100.000 euros and 50.000 euros to ones possessing off shore companies.

    Source: NET, NET 105.8, ANA-ΜPA

    Σχετικό άρθρο: "Συστράτευση στη μάχη της οικονομίας"

    News item: 34281

    The Hellenic Radio (ERA): News in English Directory - Previous Article - Next Article
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