LIVE – “The Greek program is serious and credible … – Le Figaro

In its final proposals for reform, a prerequisite for new money and avoid bankruptcy, Greece is committed to implementing many of the measures proposed by the creditors on June 26 … and rejected in a referendum by the people . According to the 13-page document entitled “Priority actions and commitments” Greece wants a solution “to adjust” its huge public debt, at 180% of GDP, and a “pack of 35 billion euros” dedicated to . Growth

Here are the reforms promised in exchange for funding of 53.5 billion euros to cover its debt obligations through 2018:

tax

While the VAT hike was the bone of contention between Athens and its creditors during these last months of negotiations, the government of Alexis Tsipras accepts “a unified system of rates VAT at 23%, also including restoration “, which so far was 13%. For basic products, electricity and hotels, VAT remains at 13% and 6% for medicines, books and theater tickets. The Government also proposes the abolition of tax benefits for the islands (the 30% reduction of VAT applied for several years), starting with the richest and tourist islands, as desired by the creditors. This removal will start in October and will be made gradually and be completed by the end of 2016.

The proposals also provide for the immediate raising taxes on luxury goods and advertising on television. The corporate tax will increase from 26% to 28%, as desired by the creditors, and not 29% as originally proposed Athens.

tax
Athens provides higher taxes on corporations and for shipowners. The government also proposes a series of measures against tax evasion and the reorganization of the tax collection system.

Retirement

About the age of retirement, it is fixed at 67 or 62 with 40 years of work and will be raised gradually by 2022. Greece also proposes to delete in steps to end the 2019 horizon pension supplement for the poorest pensioners (Ekas).

Privatization

The government agrees to sell the remaining share of the State in the share capital of OTE Greek telecommunication, whose main shareholder is Deutsche Telekom. The tender will also be launched for the privatization of the ports of Piraeus and Thessaloniki by October.

deregulation

Reforms to deregulation certain occupations (engineers, notaries) and the tourism sector are also planned.

Administration Reform
Managers will be hired by 2015 to assess officials and a series of measures is designed to modernize the public sector.

defense

The ceiling in military spending will be reduced by 100 million euros in 2015 and 200 million in 2016 against a reduction of 400 million proposed by creditors.

budget objectives
Initially Athens was aligned with the proposals of creditors to achieve a primary budget surplus (excluding debt service) from 1% in 2015, 2% in 2016 and 3% in 2017 but Thursday night the government indicated that these objectives should be re-examined because the economic situation has worsened in recent days, especially after the imposition of capital controls and the closing of banks.

Public debt
The Greek proposals also provide for “regulating the public debt, “180% of GDP currently, according to a government source who did not give more details on this thorny subject that the majority of countries in the euro zone do not want to hear, especially Germany and countries North …