Financial News: EBEA: Gov't turning Greece into vast poorhouse

The government has surpassed all precedents and is turning Greece into a vast poorhouse, Athens Chamber of Commerce and Industry (EBEA) president Costas Michalos charged on Thursday, commenting on the new tough austerity measures decided by the Cabinet the previous day.
He said that the new measures cannot be implemented, adding that "the government's heartlessness, which arises from its own unprecedented incompetence, cannot be tolerated by the businesses, the working people nor the pensioners".
The government's decision to reduce the tax-free ceiling, raze pensions, establish "hunger salaries" and fully disintegrate the public sector through layoffs and closures, its announcement of privatisations that are not quantified, if implemented, will bring about the country's full economic and social destruction, Michalos warned.
He said that the country's business world fears that these measures will not be the last, noting that the new taxation bill was imminent and "no one knows what else".

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