Staff-level deal between Greece and creditors presented to Eurogroup

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Staff-level deal between Greece and creditors presented to EurogroupGreece's steady and harmonious relations with its creditors are very critical for the recovery of its crisis stricken economy as well as the further promotion of its booming tourist industry

The staff-level agreement that was completed last Saturday between the Greek government and the Institutions will be presented for approval to Monday’s Eurogroup. A political agreement for the disbursement of the next tranche will be concluded in the next Eurogroup in January, provided that all prerequisites are passed in time. The staff-level agreement for the third review was concluded within the timescale set by the Greek government.

The final text provides, among others, for a sizable increase in social expenditure. The total fund for family allowances will reach 910 million euros, i.e. it will be increased by 260 million euros compared to this year. It was also agreed that in case a company bankrupts, the first to be compensated will be the employees and then the banks. The only issue pending is the Greek request to keep the low VAT rate in 32 islands of the Northeastern Aegean and the Dodecanese for one more year.

Read more here.

RELATED TOPICS: GreeceGreek tourism newsTourism in GreeceGreek islandsHotels in GreeceTravel to GreeceGreek destinations Greek travel marketGreek tourism statisticsGreek tourism report

Source: int.ert.gr

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