What is being asked of Greece:

A three-year memorandum and 86-billion-euro loan in return for the following reforms   13 July 2015 / 15:07:39  GRReporter

All measures of the new agreement:

  • VAT on restaurants immediately increases from 13% to 23%.
  • VAT on hotels rises from 6.5% to 13% as of October 2015.
  • Gradually reducing VAT on the islands as of October 2015.
  • Gradually increasing the retirement age as of July 2015. In 2022, it will reach 67 years or 62 years in the event of 40 years of service.
  • The above measure excludes heavy and unhealthy professions and mothers of disabled children.
  • Gradually eliminating the social solidarity benefit for all pensioners by the end of 2019.
  • Increasing the health insurance contributions of pensioners from 4% to 6% in the main and supplementary funds.
  • Merging all additional health insurance funds until 1 January.
  • Privatisation of the independent power transmission operator.
  • Reforming the labour market and applying the instruments of the Organization for Economic Cooperation and Development.
  • Opening shops on Sundays, changing the ownership of pharmacies, dairies, bakeries, opening of closed professions.
  • Reducing defence spending by 100 million euro in 2015 and 200 million in 2016.
  • Competitions for the sale of Piraeus and Thessaloniki ports by the end of October 2015.
  • Completing the competitions for the airports and railways in the country as well as for Egnatia Highway and the old airport in Athens.
  • Introducing a unified payroll table for public sector wages from 1 January 2016 and determining wages in accordance with the qualities and responsibilities required for occupying a specific post.
  • A new permanent plan for mobility in the public sector as of October 2015.

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