The Greek government tabled a new draft bill in parliament that includes several painful measures and reforms, required for Greece’s third bailout deal.
The government filed the “Draft Agreement for Financial Assistance from the European Stability Mechanism and adjustments for the implementation of the Funding Agreement.” The draft was filed on Tuesday night for discussion and adoption in emergency form and its adoption is a prerequisite for the ratification of the agreement and disbursement of the first tranche from the ESM.
The 38 prerequisites that are considered “painful” by several cabinet members and MPs are the following:
1. Changes to the Bankruptcy Code.
2. Changes to the revenue code and rules for writeoffs of debts to the state.
3. Restrictions to the limits concerning confiscations.
4. Changes to rules for debts to the public sector.
5. Changes to debt repayments in 100 installments.
6. Changes to annual credit reviews of businesses.
7. Tax down payment increases for businesses.
8. Abolition of the 26% tax contribution for imports to avoid transactions via Cyprus, Bulgaria, etc.
9. Limits to tax exemptions for shipping.
10. Abolition of tax exemptions for betting agencies of the Greek Organisation of Football Prognostics S.A.(OPAP).
11. Restrictions to tax exemptions in agriculture.
12. An end to diesel fuel tax reduction for farming.
13. VAT reduction from 23% to 13% on beef.
14. Implementation of 23% VAT for private educational institutions.
15. Implementation of electronic system to combat tax evasion and smuggling.
16. Financial Crime Unit (SDOE) to be merged with the Finance Ministry’s partly independent General Secretariat of Public Revenue.
17. Increased authority to tax fraud inspectors.
18. Restriction to compensation for public sector travelling expenses.
19. Semiautomatic cutbacks of state funds from the fiscal council if the budget does not meet targets.
20. Immediate application of all terms voted in June for the bridge loan.
21. Abolition of taxes for third parties.
22. Changes to social security funds’ debt.
23. Changes to lower pensions.
24. Merging of supplementary pension funds.
25. Increase of retirement age.
26. Reduction in medicine prices.
27. A ceiling on spending for supplies at state universities and applying an automatic mechanism for returns from health funds back to the public sector (claw back).
28. Changes in the administration of state hospitals.
29. Changes in the sales and discount policies of retail stores.
30. Measures to liberate the energy market.
31. Separation of the Hellenic Gas Transmission System Operator (DESFA).
32. Liberation of the market for transport trucks.
33. Measures for the liberation of the milk/dairy product market.
34. Measures for the liberation of the bread/bakery product market.
35. Measures for the liberation of the tourist coach market.
36. Measures for the liberation of tourist professions.
37. Measures for the liberation of the bailiff profession.
38. Measures for the liberation of the notary profession.
The draft bill summary can be found here.
See all the latest news from Greece and the world at Greekreporter.com. Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!
