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Greek parliament to vote on tax, pension reforms before Eurogroup meeting
Source: Reuters
Markets | Thu May 5, 2016 10:17am EDT
Greek parliament to vote on tax, pension reforms before Eurogroup meeting
ATHENS | BY RENEE MALTEZOU
Greek labor unions declared a 48-hour national walkout on Thursday as lawmakers debated unpopular tax and pension reforms Greece hopes will help persuade creditors to approve release of badly-needed bailout cash.
Greece needs the bailout funds to pay IMF loans, ECB bonds maturing in July and growing state arrears, but these are subject to it passing a review that includes required changes to its tax and pension laws.
Labor unions said the proposals ran roughshod over a population that has already suffered years of austerity. The country's two largest unions called a two-day general strike from Friday, culminating in a demonstration in central Athens on May 8.
Parliament was due to vote on the bill before euro zone finance ministers meet on Monday to try to unblock the review which has stalled mainly due to a rift among its international creditors on Greece's fiscal progress.
Athens hopes parliamentary approval will help convince other EU member states that Greece has made enough progress and does not need to implement further belt-tightening.
[font size=1]-snip-[/font]
Greek parliament to vote on tax, pension reforms before Eurogroup meeting
ATHENS | BY RENEE MALTEZOU
Greek labor unions declared a 48-hour national walkout on Thursday as lawmakers debated unpopular tax and pension reforms Greece hopes will help persuade creditors to approve release of badly-needed bailout cash.
Greece needs the bailout funds to pay IMF loans, ECB bonds maturing in July and growing state arrears, but these are subject to it passing a review that includes required changes to its tax and pension laws.
Labor unions said the proposals ran roughshod over a population that has already suffered years of austerity. The country's two largest unions called a two-day general strike from Friday, culminating in a demonstration in central Athens on May 8.
Parliament was due to vote on the bill before euro zone finance ministers meet on Monday to try to unblock the review which has stalled mainly due to a rift among its international creditors on Greece's fiscal progress.
Athens hopes parliamentary approval will help convince other EU member states that Greece has made enough progress and does not need to implement further belt-tightening.
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Read more: http://www.reuters.com/article/us-eurozone-greece-reforms-idUSKCN0XW1DO
