Presidential salary and perks set to be slashed

Some 350,000 euros in taxpayers? money is to be saved each year after the Finance Ministry submitted an amendment to Parliament on Friday that drastically reduces the wages and expenses that can be claimed by the president of the Republic.

Under the would-be law, the president will be paid 11,561 euros per month rather than 23,122.

Monthly expenses of 6,240 euros will be scrapped altogether.

Current Greek President Karolos Papoulias (photo) waived his salary earlier this year and had asked for the government to pass legislation reducing the cost of future presidents to public coffers.