NEWS

State funding for political parties cut by 20 percent

Political parties will have their state funding for this year cut by 20 percent, Interior Minister Yiannis Ragousis announced on Wednesday as part of changes to political fundraising.

The parties were due to receive a combined total of 55.5 million euros of public money for 2011 but will only be given 44.4 million euros instead.

Ragousis said that new legislation would also force parties to name any individuals or legal entities that donate money to them.

?It is essential for parties to tap into their grassroots friends and members to seek funds to finance the development of their policies and their continued operation,? the minister said.