Greeks agonise over prospect of more austerity measures
- 9 years ago
With a debt crisis now in its fifth year, Greece has become used to painful, drawn-out negotiations with international lenders.
But to many Greeks already hit hard by half a decade of austerity, the latest tax hikes and pension cuts demanded by creditors have a particularly bitter taste.
“The average Greek family has lost over 40 percent of its income during the crisis, and some families even more,” said Napoleon Maravegias, Professor at the School of Economics and Political Sciences of the University of Athens.
“Therefore you realise that no Greek government or political party can convince the people that more austerity measures like these are a solution to their problems,” he told euronews.
Creditors are asking Greece to increase value-added tax (VAT) rates on a number of goods and services including electricity, which would see VAT rise from 13 percent to 23 percent – at a time when some struggling Greek families are already unable to pay their bills, and living in the dark.
But to many Greeks already hit hard by half a decade of austerity, the latest tax hikes and pension cuts demanded by creditors have a particularly bitter taste.
“The average Greek family has lost over 40 percent of its income during the crisis, and some families even more,” said Napoleon Maravegias, Professor at the School of Economics and Political Sciences of the University of Athens.
“Therefore you realise that no Greek government or political party can convince the people that more austerity measures like these are a solution to their problems,” he told euronews.
Creditors are asking Greece to increase value-added tax (VAT) rates on a number of goods and services including electricity, which would see VAT rise from 13 percent to 23 percent – at a time when some struggling Greek families are already unable to pay their bills, and living in the dark.