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LequteMan
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Greece's economy minister Giorgos Stathakis has told the BBC that Greece's new proposals to balance the government's books have broken the deadlock with its creditors.
According to him, the Eurozone government heads would issue a communique later today that will say there is now a basis for a formal agreement with Athens to complete the current bailout programme and release €7.2bn of vital funds.
Mr Stathakis conceded that technical work would need to be done in the coming days to formalise the agreement. But he was hopeful that Greece would be able to make its €1.5bn payment to the IMF on its due date of June 30 - and therefore avoid a devastating default.
He detailed Greece's new money-raising proposals. These include:
1) A new tax on businesses
2) A new tax on the wealthy
3) Some increases in the VAT rate on selected items.
Mr Stathakis also said that the government will be able to re-introduce collective bargaining by trade unions, which is of vital importance to his party.
According to him, the Eurozone government heads would issue a communique later today that will say there is now a basis for a formal agreement with Athens to complete the current bailout programme and release €7.2bn of vital funds.
Mr Stathakis conceded that technical work would need to be done in the coming days to formalise the agreement. But he was hopeful that Greece would be able to make its €1.5bn payment to the IMF on its due date of June 30 - and therefore avoid a devastating default.
He detailed Greece's new money-raising proposals. These include:
1) A new tax on businesses
2) A new tax on the wealthy
3) Some increases in the VAT rate on selected items.
Mr Stathakis also said that the government will be able to re-introduce collective bargaining by trade unions, which is of vital importance to his party.
