Greek reforms proposals filtering out:
- Sets primary surplus target of 1 pct in 2015, 2 pct in 2016
- Includes vat rate of 23 pct for restaurants and catering
- Sets VAT for hotels at 13%
- To eliminate VAT tax breaks for islands by end 2016
More:
- proposes dent restructuring, EU35bn growth package
- Greece proposes pension savings of 0.25-0.5% of GDP in 2015
- Greek proposal envisages ESM funding until June 30 2018
- Proposes increase in corp tax to 28% (from 26)
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EUR doing very little indeed ... 1.1037 as I update
... updated .... ticking a little higher now 1.1046
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The proposals are pretty much what the Greek people voted 'No' against at the weekend.