Mid-term fiscal restructuring programme tabled in Parliament

A government's mid-term fiscal restructuring programme was tabled in the Greek Parliament on Thursday evening.
Ratification of the programme -- which reportedly includes new austerity measures, creation of a state property fund and privatisations -- by Parliament is imperative for the continued funding of the country via the 110-billion-euro EC-ECB-IMF bailout package.

Mid-term fiscal restructuring programme to be presented for ratification on June 28

The Finance ministry's draft bill concerning the Mid-term fiscal restructuring programme for 2012-2015 which was tabled in Parliament, following its ratification by the Cabinet Council on Thursday night, will be presented for a vote on June 28.
The draft law anticipates, among other things, interventions aiming at saving up to 28 billion euros for 2011 and all the years until 2015, the decrease in the number of civil servants through the decrease in the number of contract employees, the decrease in expenditures for armaments programmes for the 2010-2015 period over 800 million euros, the suspension of the sources of income declaration for every home for the next two years.
In parallel, the programme does not include the special contribution being planned by the government on incomes and the relevant arrangement will be included in the applying law and after consultations are held both for the rate, planned to range from 3 percent to 7 percent, as well as the amount of income that will be assessed, as well as the extent of the duration of implementation.
Moreover, the gradual transition to the new unified salary scale that will be enacted in July will begin from 2011.

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