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Gov't unveils bill to overhaul pension system, increase income tax revenues
EconomyProgrammefrom the beginning of June 2016 until the end of May 2019. A lower rise by a total of 0.5 points would be applied from the succeeding 3-year period until the end of May 2022. During a 4-year transitional period (until the end of 2020) a discount will be applied for the new contributions for the ex
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Ministry's actuarial study shows the devastating impact of the crisis on the pension system
Economyincreased retirement resulted in a notable rise in the number of pensioners. From 2000 until 2008... digit levels from 1980 until 2009. The wealth (cash reserves and bonds) of pension funds was reduced.... As a percentage of GDP, pension deficit exceeds 9 percent from 2015 until 2019 and is equivalent
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Eurozone sets out proposals for staggered debt relief for Greece
EconomyProgrammeby setting loan repayments as 1 percent of GDP until 2050 and linearly amortised after that A capping... of the 2 percent being deferred until 2050. The accumulated and capitalised deferred interest would... percent of GDP until late 2030s and below 20 percent afterwards. If, however, there is weaker growth
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Multi-bill tabled as Greece aims to take last step to completion of review
EconomyProgrammebacked by primary residences across all lending segments are protected until the end of 2017.... Contingency mechanism The legislation on the fiscal mechanism foresees that until May 10 of each..., a Presidential Decree is published until May 31 detailing the expenditure cuts related to the general
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Tight schedule to approve multi-bill, tick off remaining milestones
EconomyProgrammethat the discount until 2021 of social contributions for owners of tourism accommodation (6-10 rooms... of lower rates until the end of 2018. Moreover, the discount of 15 percent on the total amount... contributions for farmers will increase revenues by a cumulative amount of 74.7 million euros until 2019
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Athens accepts review's toughest fronts remain open
EconomyProgrammethat “nothing is agreed until all the issues are resolved,” adding that “different players are raising a number of issues, but nothing can be agreed until the whole package is clear.” An agreement on those... may be deferred, few developments are expected until the board meeting has taken place
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IMF sees much scope for reform progress, particularly on tax in Article IV report
EconomyProgrammesuggests a number of significant debt relief measures including grace extensions until 2040 and maturity extensions until 2070, interest deferrals until 2040, returning of SMP and ANFA profits and locking
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Stocks fall for fifth straight week, edging down 0.8 pct
EconomyThe Greek equity market continued heading south this week, remaining weak until Thursday amid... process. As a result, the Athens Stock Exchange general index, which had dropped by 3.2 percent until... volatile for yet another week. They experienced losses of 10.9 percent until Thursday, when the banking
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Bill for out-of-court workout ready but may need tweaks
EconomyProgrammeThe Development Ministry has tabled for public consultation until March 3 the draft law on the out.... The institutions have prefer to include debt created until the end of June 2016. In addition, the government... euros created until the end of 2015, 34.8 billion are overdue taxes of corporates. Meanwhile
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Greece forced to revisit prickly subject of pension spending to conclude review
EconomyProgrammepensions will have to be recalibrated according to the new rules until the end of September 2017...) will be frozen until this gap is eliminated through the effect of inflation and GDP growth... lines for the government until recently. The second measure proposed by the IMF relates to a review
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