09 October 2024,   01:19
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Greek Government submits reform plan

 

After working all day, the Greek government"s sent the plan for economic reforms to in Brussels late at night yesterday. The European Commission, the European Central Bank and IMF experts will study it till Sunday.

The plan includes sweeping changes to VAT to raise a full 1 percent of GDP, moving more items to the 23% top rate of tax, including restaurants - a key battleground before.

Greece has also dropped its opposition to abolishing the lower VAT rate on its islands, starting with the most popular tourist attractions, despite firm opposition from Tsipras’s coalition partner.

Athens also appears to have made significant concessions on pensions, agreeing to phase out solidarity payments for the poorest pensioners by December 2019, a year earlier than planned. It would also raise the retirement age to 67 by 2022.

Before the EU holds an emergency meeting on Sunday to discuss the new plan, part of the Greek population hold rallies with the request to stay in the EU. Several thousand people gathered with this request in Athens in front of the Parliament.

 
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