The Greek Crisis II: The last attempt

Discouraging is the official figure of the Greek Statistical Authority for the evolution of the Gross Domestic Product.

According to ELSTAT “available non-seasonally-adjusted data indicate that, in the 2nd quarter of 2012, the Gross Domestic Product (GDP) at constant prices of year 2005 decreased by 6.2% in comparison with the 2nd quarter of 2011. The GDP of the 1st quarter of 2012 is revised, based on 1st quarter 2012 data of the General Government accounts (compiled at the end of June), ας well as new estimates of the short term indices”. 

The additional austerity measure include:

-  drastic reduction in the income criteria to be adopted for granting social benefits and welfare benefits to 30,000 euros or even lower at 25,000 (annual income). But then almost half of beneficiaries will lose their benefits from this year

-  halving the lamp sum of beneficiaries, even if they have already gone from their service. However extreme, officials are thinking of the possibility to request from those that managed to get the lamp sum at the last minute this year, to pay back part of it as "additional levy". This is because the economic team estimates that the 24 of the 37 Funds that give a lump sum pay excessive amounts of more than 2% to 83% of the paid contributions

-  a benefits plan under which the annual income that is as a criterion for their issuing, will also include presumptive items instead of the actual acquired incomes. Thus, most homeowners may lose their EKAS too. Officials are also considering of now giving it to pensioners aged 65 and over, instead of the current 60

-  the law that -as revealed by Proto Thema- is being prepared to place under redundancy the public servants involved in corruption or those that have harmed (intentionally or not) the State

The final proposals will be in the hands of the political leaders no later than Monday, August 20, to give them a period of at least 10 days until the arrival of troika.