Here is a list of the demands that the European Commission placed upon Greece. They are totally insane without any comprehension of the future. These demands are without any common sense and there is absolutely no endgame here to be found. The EU officials are simply crushing the Greek economy and if Greece adopted these demands, they would simply gut their country to the point of civil war. To politicians, it is always just raise taxes on the stupid people willing to be ruled.
Lenders’ proposals – key sticking points:
- VAT (sales tax): A new system to come in from July 1, with three rates, aimed at boosting annual revenue by 1% of total output (GDP)
- Most goods to be taxed at top rate of 23%, including restaurants, catering, and processed foods
- Reduced rate of 13% for basic food, electricity, hotels, and water
- Super-reduced rate of 6% for medicines, books, and theater
- End exemptions and eliminate VAT discounts for Greek islands
- Create strong disincentives to early retirement
- Move retirement age up to 67 by 2022
- End Ekas “solidarity” top-up grant that some 200,000 poorer pensioners will get an immediate Ekas cut for the wealthiest 20% of recipients, and it will be cut completely by 2020
- Pensioners’ healthcare contributions to rise to 6%, from 4%
