The measures the Greeks will have to put up with are as follows - these are the conditions that their austerity package will offer:
Income tax threshold would be lowered from €12,000 (£10,300) to €5,000 (£4,300)
Retirement age would be raised from 61 to 65
VAT would rise from 19 to 23 per cent
Higher property taxes
Monthly pensions above €1,000 (£860) would be cut by 20 per cent
Excise on fuel, cigarettes and alcohol would rise by a third
To qualify for a full pension people would be required to complete 40 years work
Retirees aged under 55 would lose 40 per cent of their pensions over €1,000 (£860)
Public sector wages would be cut by 20 per cent
Employees of state-owned enterprises would have their wages cut by 30 per cent
A cap would be introduced on wages and bonuses
30,000 civil servants would be suspended on partial pay
All temporary contracts for public sector workers would be terminated.
Just one in 10 civil servants retiring this year would be replaced
New levies on household incomes of between one and five per cent
Read more:
http://www.dailymail.co.uk/news/article-2055872/Greece-referendum-Crisis-deepens-Greek-National-Defence-chiefs-sacked.html#ixzz1cXAvweiM
How many people here would be happy to accept these conditions ? and we think we have it bad.
Roger
