These are the measures that will be applied on Monday if there is an agreement

These are the measures that will be applied on Monday if there is an agreement

Monday starts the implementation of the first measures that will be a sample of the Greek government’s writing to get direct money of about 7 billion euros and then the total package said to be from 50 to 80 billion euros for three years.

According to the letter from the new Finance Minister Euclides Tsakalotos to the European Financial Stability Mechanism (ESM), the implementation of the measures starts on Monday.

Our country is asking ESM for a loan to cover its debt commitments, which exceed 8 billion euros by the end of August, but also to ensure stability in the financial system.

In return, it is committed to “a comprehensive set of reform measures to be implemented in the areas of fiscal sustainability, financial stability and long-term economic growth”.

“Within the framework of the Program, we propose to implement a series of measures immediately, starting even from the beginning of next week, including: measures relating to tax reform and pensions,” as refers to the letter.

The final proposal of the Greek side, which is reportedly compiled with the help of French technocrats, will be submitted today and will set out in detail the proposals of Greece.

In the case of an agreement, next week everything changes, in principle to VAT:

– 23% in restaurants and most foods.

–  13% hotels and electricity

–  6% drugs, books and theaters, while it remains unknown whether the 30% discount for the Aegean Islands will be maintained.

So all processed, packaged and canned foods will have a 23% VAT of 13% now. 23% will also be: transport services (bus, train, airplane, ship tickets, taxi fare), serviced items in mass caterers, old house repair services, secondary health services provided by private hospitals, entertainment tickets (cinemas, etc., other than theaters).

Prices of all above items and services will increase by 8.85%.

From the tax measures cannot be excluded directly the rates of the special solidarity levy for an annual income of over € 30,000 to be acquired in the current year.

The new proposed increased rates of the special solidarity levy are as follows:

-2% (from 1.4%) for annual income from € 30.001 to € 50,000

-4% (from 2,1%) for annual income from €50.001 to €100.000.


-6% (from 2,8%) for annual income from €100.001 έως €500.000.

-8% (from 2,8%) for annual income €500.000 ευρώ.

– The luxury living tax of 30%, from 10% to 13% of the corresponding living presumption for cars more than 2,500 cubic centimeters up to 10 years old, swimming pools, aircrafts and helicopters. The tax will be extended to recreational craft over 10 meters.

Pension measures will be implemented on Monday if agreement is reached.

Athens is committed to implementing immediate measures in the retirement plan.

According to information these will be:

-The abolition of early retirement and the increase of the penalty in cases of early retirement. However, it has not yet clarified whether new measures will be introduced in the new pension scheme.

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