Greece Gives Citizens One Day to Consider Draft Law on Austerity Measures

‘The adoption of the austerity measures is stipulated in Athens’ third and latest bailout package from its European creditors and constitutes a condition for the further extension of credits to the country.

Among other measures, the draft provides for the retirement age increase from 55 years for men and 50 for women to 67 for both genders.

Income from real estate up to 12,000 euros ($13,630), currently taxed by 11 percent, is proposed to be taxed by 15 percent while annual income of over 12,000 euros are to be taxed by 35 percent instead of the current 33.

The draft is expected to be passed into law next week.’

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