Deal or no deal: The Greece standoff
Thursday, June 25, 2015
Last week (week of June 22nd), the Greek authorities presented a new proposal to its creditors, consisting of increases in contributions to the government pension scheme, a widening of the 23% VAT rate (but a reduced rate of 13% on energy, basic foods, catering and hotels), an increase in the corporate tax rate from 26% to 29%, an increase in the "solidarity" income tax rate that had been initiated under previous bailout programmes, and a reduction in defense spending.