Tags: EU | Greece | Bailout

Greece: Latest Cuts Extend Austerity to Decade Mark

Monday, 15 May 2017 05:46 AM

ATHENS, Greece (AP) — Lawmakers in Greece are starting a four-day debate on a new package of spending cuts that will extend the number of years Greeks have lived under austerity to more than a decade.

The latest round of measures will introduce pension cuts in 2019 and higher income tax in 2020, under an agreement with international bailout lenders for continued rescue funding.

Greek public finances are currently being propped up by a third successive bailout, monitored by European Union institutions and the International Monetary Fund.

Draconian spending cuts have seen poverty rates surge to more than 35 percent, with the EU average under 24 percent.

Debate on the new austerity measures begins in parliament Monday and is due to end with a vote late Thursday.

© Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
Europe
Lawmakers in Greece are starting a four-day debate on a new package of spending cuts that will extend the number of years Greeks have lived under austerity to more than a decade.The latest round of measures will introduce pension cuts in 2019 and higher income tax in 2020,...
EU,Greece,Bailout
126
2017-46-15
Monday, 15 May 2017 05:46 AM
Newsmax Media, Inc.
 
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved