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Addressing the Crisis Through Support Packages and Memoranda

  • Spyros Sakellaropoulos
Chapter

Abstract

Greek borrowing was implemented through the adoption of three memoranda and eight packages of measures. These packages included actions such as lowering the minimum wage, decreasing pensions and public sector wages, abolition of the 13th and 14th salaries and the 13th and 14th pensions, increases in value-added tax (VAT), higher indirect taxation, the addition of real estate tax, shifting of the emphasis in employment contracts from the sectoral and national level to the enterprise level, drastic cuts in the number of public sector workers, a sharp increase in the sale of public property to foreign and raising retirement age.

References

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Copyright information

© The Author(s) 2019

Authors and Affiliations

  • Spyros Sakellaropoulos
    • 1
  1. 1.Department of Social PolicyPanteion UniversityAthensGreece

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