The package emerged after the rapidly rise of Greek/German 10-year debt yield spread and the downgrading of Greek economy by all United States of America's nationally recognized statistical rating organizations. [59], In exchange for European funding Greece was forced to impose strict fiscal austerity. All reductions in salaries, benefits and allowances apply to members of Parliament, government officials and civil servants. 2) It "strengthened investor protections by requiring greater immediate and annual disclosure of material related-party transactions", and 3) it "enhanced its insolvency process by abolishing the conciliation procedure and introducing a new rehabilitation proceeding". Greek citizenship by claim of Greek origin, descent or ancestry, 5. “Λυπητερή για 50.000 «έχοντες»” — Ta Nea Also it provided cuts public sector's expenses such as cuts for the expenses of the Ministry of Health among others.[47][48]. Increase to be determined by GDP, inflation and consumer price index from 2014. The state lost €11.2 billion in tax revenues as a result. It includes rise taxes for those with a yearly income of over €8,000, an extra tax for those with a yearly income of over €12,000 among others. — 300,001 – 1,000,000: 6 percent Very informative article. [53], The twelfth austerity package voted on October 2015 and includes the required measures to unlock a tranche of loans worth 2 billion euros.[54][55].
", "Greece's poor queue for food aid in Athen", "Greek unrest after pensioner suicide beside parliament", "Ordinary Greeks turning to NGOs as health system hit by austerity", "Greek economic crisis turns tragic for children abandoned by their families", "Unemployment matters more than GDP or inflation", "Greece suicide: Tributes for retired pharmacist", "Greek austerity measures could violate human rights, UN expert says", "Βενιζέλος: Δημιουργία λογαριασμού κοινωνικής εξισορρόπησης", "Grim effects of austerity show on Greek streets", "IMF worried by social cost of Greek austerity", "Greece on the breadline: how leftovers became a meal", "It may well turn out that we are watching not a Greek but a euro tragedy", Office of Federal Housing Enterprise Oversight, China–Japan–South Korea trilateral summit, Dodd–Frank Wall Street Reform and Consumer Protection Act, Emergency Economic Stabilization Act of 2008, Term Asset-Backed Securities Loan Facility, American Recovery and Reinvestment Act of 2009, Fraud Enforcement and Recovery Act of 2009, Housing and Economic Recovery Act of 2008, National fiscal policy response to the Great Recession, List of banks acquired or bankrupted during the Great Recession, Effects of the Great Recession on museums, https://en.wikipedia.org/w/index.php?title=Greek_government-debt_crisis_countermeasures&oldid=976235587, Creative Commons Attribution-ShareAlike License, Ronald Janssen, 'Greece and the IMF:Who Exactly is Being Saved?' Austerity measures planned by the Greek government have been met with violent protests in Athens. Greece was already struggling to pay pensions to its large older population -- some 20 percent of Greece is over 65 years old. “Καταργούνται δώρα-επιδόματα των βουλευτών” — Ta Nea You end up paying for your own benefits in the form of excessive tax rates. [82][86] Patients with chronic conditions attending treatment at state hospitals in Athens are told to bring their own prescription drugs. “Greek cabinet approves pension reforms” — WSJ Lower-energy…, Rare drone view of only fossil palm forest in Europe in Laconia, #Greece, RT @PGiannakouris: In this picture with a long shutter speed stars move on the night sky during the #Perseid #meteor #shower in the Pineios…, RT @PGiannakouris: The #moon rises behind the columns of the #ancient marble Temple of #Poseidon at Cape #Sounion, about 70 Km (45 miles) s…, RT @AlexMaragos: It’s about the journey, not the destination. All in all, something has to be done, but we’re missing the facts and some measures being taken look more like Pavlov reactions. […] money is coming from other European Union countries (governments), but the “meat” of the new “austerity measures” are coming from the bankers in the form of the IMF. Outrage and a sense of injustice by the general public have made these measures a central issue during May and June elections, with politicians promising renegotiation or non-implementation, while the the EU-IMF bailout and continued inclusion in the euro zone hinge on honoring them. [7] At the same time it was estimated that roughly €1 billion was paid by companies in bribes to public institutions for avoiding bureaucratic rules or to get other benefits. — Up to 20 employees: No limit This is the third increase since January 2010. I really don’t think Greeks have understood the gravity of the situation. You have a huge fan base from us Greek-Americans who made the decision to move to this country! “Tougher pension reform unveiled” — Kathimerini • Young people between the age of 15-18 can be hired for 70 percent the minimum wage, which is 518 euros. Greece received three successive packages, totalling €289bn (£259bn; $330bn), but … “Greek lawmakers to debate austerity bill Tuesday” – WSJ (link removed)
The employees – a man and two women, one of whom was four months pregnant – were the first to lose their lives since the crisis hit the country six months ago. FAQ: Greek work and/or residence permits, 7.
Residence/work permit for American/non-EU family members of Greek/EU citizens, 6. In 2015, the minimum pension system will take effect. The list below refers to the second round of austerity measures from May 2010, which had been the most drastic until October 2011. On July 8, 2010, Parliament passed pension reform in principle, after the bill had been amended 50 times. "[82] The social effects of the austerity measures on the Greek population have been severe, as well as on poor and needy foreign immigrants, with some Greek citizens turning to NGOs for healthcare treatment[83] and having to give up children for adoption. I wish I was a divorced daughter of a public servant, to say the least.
Thanks so much for stopping in and contributing your thoughts. Take your loss. When that happens, I will write another article and link it. You mentioned how expensive it is to take private lessons and so I thought you (and your readers if you want to blog it) might like to investigate the ‘Freeconomy Community” of Greece see http://forum.justfortheloveofit.org/viewtopic.php?f=123&t=7452&start=10 – this is community of people who exchange their skills, time, facilities and equipment amongst themselves free of charge. The list also contains the names of officials in the finance ministry. Hope to see you again. [74][75] As a result, the seasonally adjusted unemployment rate also grew from 7.5% in September 2008 to a record high of 25.1% in July 2012, while the youth unemployment rate during the same time rose from 22.0% to as high as 55%. — Between 20-150 employees: Up to six dismissals a month When calculating all sorts of corruption in Greece, the total amount is estimated to be roughly €3.5 billion per year (equal to 1.75% of the Greek GDP). Thanks again for your helpful site. “Χάνουν τα δώρα συνταξιούχοι κάτω των 60 ετών” — Eleftherotypia The bailout had become unavoidable after Athens, staggering under a €300bn debt, found itself locked out of capital markets because of prohibitively high borrowing costs. "I have difficulty finding the words to express my distress and outrage," said the widely revered head of state. Third, amendments resulting from debates or proposals are published along the way. [87], In June the previous year, at the time of the Greek parliaments approval of the fourth austerity package, an independent United Nations official had cautioned that this additional package of austerity in Greece could potentially pose a violation of human rights, if it were implemented without careful consideration to the population's need for "food, water, adequate housing and work under fair and equitable conditions". This was expected to reduce the problem of businesses taking payments but not issuing an invoice;[24] that tactic had been used by various companies to avoid payment of VAT (sales) tax as well as income tax. “Σύνταξη στα 65 για όλες τις μητέρες” — Ta Nea Bailouts - emergency loans aimed at saving sinking economies - began in 2010.
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