Athens agrees more austerity measures to secure bailout

‘The Greek government has agreed to impose more taxes and pension cuts on its citizens in order to pave the way for long-awaited debt relief talks with international creditors.
“The negotiations for a technical deal were concluded on all issues,” Greek Finance Minister Euclid Tsakalotos told reporters.
“There was white smoke,” he said, using a term associated with papal elections.
The minister added he was “certain” that the agreement would enable Greece to secure debt relief measures from its creditors, which he has said is vital to spearhead recovery in the country’s struggling economy.
As part of the reforms, Athens has promised to cut pensions in 2019 and reduce the tax-free threshold in 2020 to produce savings worth 2 percent of GDP.
Athens also agreed to sell coal-fired plants and coal mines equal to about 40 percent of its dominant power utility Public Power Corp’s capacity.’
Read more: Athens agrees more austerity measures to secure bailout