Shocking Measures

Shocking measures for pensioners and employees in the Public sector were decided upon by the Governmental Committee after a meeting of seven hours or more.

According to preliminary information, pensions of more than 1200 euros a month will be reduced by 20% and the calculation of this percentage will be for the additional amount of 1200 euros.

For pensioners under 55 years of age, the reduction will be 40% for over 1.000 euros. Still, information points to a cut of 20%-30% in the public sector.

In addition, only for this  year 30.000 workers in the public sector are put into reserve, 20.000 in the wider sector and 10.000 in the narrower sector.

Out of these 30.000, approximately 6.000 to 7.000 will be fired within a year.

The tax-free threshold will be reduced to 5000 euros, which means that each taxpayer automatically loses 300 euros from their income.

Also, by October 2012 the price of heating oil will have soared to new heights, equating to the tax on diesel.

Concerning the issue of real estate tax, information states that the measure will extend to 2014.