Greek Finance Minister Euclid Tsakalotos referred to “major progress” in talks with Greece’s institutional creditors on Thursday, citing a convergence of views on pension reform -- but remaining differences on the issue of non-performing loans.
Reports state that the Greek side has continued to press its position for a tax-free ceiling of roughly 9,000 euros in annual income, although information is limited on the level of tax hikes and which brackets will be affected.
Tsakalotos, nevertheless, has cited a “progressive” tax scale affecting the “higher” income brackets. What remains to be seen is what the government now considers as a “high income”.
Negotiations continue today, with the agenda of talks revolving around a final list of fiscal adjustment measures – equaling 1 percent of GDP – for 2017 and 2018, in order to achieve a primary budget surplus of 3.5 percent of GDP by the end of 2018
