Sunday December 21, 2014 Search
Weather | Athens
17o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Coalition seeks to heal splits over new tax bill

 Income tax proposal splits coalition, likely forcing Stournaras to find alternative

As Greece briefed eurozone finance ministers on the details of its bond buyback scheme on Monday night, the government appeared ready to climb down on parts of its tax legislation that is causing friction in the three-party coalition.

Finance Minister Yannis Stournaras presented at Monday’s Eurogroup meeting in Brussels the plan for buying back Greek government bonds, which Athens had announced several hours earlier. The Finance Ministry said it would buy back the paper, paying from a minimum of 30.2 to 38.1 percent and a maximum of 32.2 to 40.1 percent of the principal amount, depending on the maturities. The aim is to reduce Greek debt by about 20 billion euros.

At the end of the meeting, Eurogroup chief Jean-Claude Juncker said no further decisions would be taken regarding the release of Greece's next loan tranche until the buyback has been completed. “I would not wish to go into details [of the buyback] at this time,” he said. “We will reconvene on December 13 to finalize our decision.”

However, Juncker said that he was confident Greece would receive approval for its next installment.

Back in Athens, Prime Minister Antonis Samaras summoned Stournaras’s deputy, Giorgos Mavraganis, to a meeting at Maximos Mansion to discuss the proposed new tax code, which the government needs to pass through Parliament in order to reach one of the “milestones” its lenders have demanded before approving the release of more funding early next year.

Coalition partners PASOK and Democratic Left oppose plans to tax annual incomes above 26,000 euros at a rate of 45 percent.

PASOK leader Evangelos Venizelos said this would turn society in its entirety against the government. “People cannot pay this. We need to find alternatives,” said Democratic Left spokesman Andreas Papadopoulos. “There is no way the tax bill will reach Parliament in its current form.”

Stournaras is due to meet representatives of the two parties on Wednesday to discuss the matter. Democratic Left is likely to propose higher taxes on property and deposits as a way of avoiding such high income tax on a relatively low wage bracket.

ekathimerini.com , Monday December 3, 2012 (21:35)  
Greek PM offers compromise solution with elections by end-2015
Environment Ministry to reconsider controversial bill
Corfu to host country’s first hydroplane strip
Political upheaval sharpens after bribe claims with threats and insinuations
Workers rush to get early retirement
Nine out of 10 workers who retired in the last four months who had belonged to the former special funds of banks and state corporations that have now been incorporated in the Social Security...
Piraeus Containter Terminal goes from strength to strength
Piraeus Container Terminal, the local subsidiary of Chinese giant Cosco Pacific, is expected to handle a total of over 3 million containers in the January-December period of this year. The J...
Inside Business
BASKETBALL
Explosive Barca unfazed by Panathinaikos, bomb scare
Panathinaikos lost 80-67 at home to Barcelona on Friday in a rather meaningless game at the end of the first group stage of the Euroleague, but the encounter will be remembered for the bomb ...
SOCCER
Abidal cuts short playing career at Olympiakos
Former France and Barcelona defender Eric Abidal announced his retirement from football on Friday, a day before his last match. Abidal said he will finish after playing for Olympiakos agains...
Inside Sports
INTERVIEW
‘Crisis of confidence will come back again and again,’ says Thomas Piketty
He’s treated like a rock star wherever he goes to lecture. His book “Capital in the 21st Century,” a study on income and wealth inequality from the 18th century to the present, recently tran...
COMMENTARY
Who lost Greece
If Greece collapses much will be said about where the fault lies. Sure, we all know the failings of Greek politicians. That said, much of the blame lies with outsiders who pushed Greece beyo...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Greek PM offers compromise solution with elections by end-2015
2. Environment Ministry to reconsider controversial bill
3. Corfu to host country’s first hydroplane strip
4. Political upheaval sharpens after bribe claims with threats and insinuations
5. Police gets new communications system
6. Most Greeks say they recycle daily
more news
Today
This Week
1. Greek PM offers compromise solution with elections by end-2015
2. Who lost Greece
3. Snubbing the moderates
4. ‘Crisis of confidence will come back again and again,’ says Thomas Piketty
5. Get your facts straight
6. The big picture
Today
This Week
1. Samaras summons bond vigilantes with euro exit talk
2. A friendly yet firm message from Pierre Moscovici
3. Europe's drama in Greece needs final act to avoid tragedy
4. High stakes
5. On the edge but not gutless
6. Gap between SYRIZA and New Democracy closing, says poll
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.