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  • What the creditors demand in order to close the bailout review

    Greece’s creditors are calling for additional permanent fiscal measures in order to…

    Greece’s creditors are calling for additional permanent fiscal measures in order to achieve a 3.5% GDP primary surplus up until 20120, in the updated version of the bailout agreement that was submitted to Greek authorities.

    The updated document, which is dated 22 November, includes a series of actions necessary to conclude the second bailout review that the Greek government will likely have difficulties implementing.

    These include increasing the rate of collective dismissal from 5% to 10% and not restoring collecting bargaining. Additionally the creditors are calling for the abolition of the heating oil benefit and tax exemptions.

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