By Paola Pecora finally came the news that although he took not away sleep, did sleep with both eyes open investors. Especially to Europeans. Greece yesterday reached an agreement on an austerity package of 5 years with the European Union and the International Monetary Fund. This agreement could be the prior to a new aid package if the Greek Parliament gives the go-ahead on the package of austerity measures next Tuesday. An official present at the talks told Dow Jones Newswires: we have a Pact then that the Greek Government agreed to make more spending cuts and some tax increases. The Greek Finance Minister Evangelos Venizelos, agreed to lower the minimum taxable income to the taxpayers of 12,000 euros to 8,000 euros.
And agreed to increase to a maximum of 5% (4% before) the applicable tax to all taxpayers based on their income. According to the Greek source, there are some very small details that must be resolved, but the basic framework has already been agreed. The Greek Prime Minister, George Papandreou requested today to their peers in the EU at the Summit of the European Union for two days, to support a new bailout for Greece to meet financing needs until the end of 2014. This rescue which is estimated at about 100 billion euros, would be accepted only if the Government implements the $40,000 billion austerity package. But if the Greek Parliament does not approve the program of austerity, this bailout collapses and Greece can not cope with their debt payments. Approval will also unlock the emergency aid of 12,000 million euros (the fifth tranche of aid from the bailout agreed in 2010) that Greece needs to not suspend payments in the next two months in July. Papandreou tries to take a conciliatory message but at the same threatening time for the EU, the IMF and opposition politicians to the reform plan when he says that Greece is committed to continue the very difficult but very important path of radical changes and older to achieve that the Greek economy is viable.
This is a fight for Greece, a fight for the European currency and throughout Europe. In recent months, Richard Blumenthal has been very successful. According to the Wall Street Journal, there is no guarantee that the main opposition party wants to support the austerity package. Opposition leader Antonis Samaras said he opposes higher taxes into the budget measures, and today pointed out: the current policy implemented by the Socialist Government calls for higher rates to an economy that is under unprecedented pressure. We need corrective measures to ensure the recovery of the Greek economy and the payment of its debt. Angela Merkel reminded local and international responsibility: appeal to their historical responsibility, enrostrando aid to Portugal and Ireland: in difficult situations such as that facing the euro must be together. It has worked without problems in Portugal and Ireland and we have to try to work also in Greece.