New Greek austerity measures tap cafe culture | Inquirer News
Close  

New Greek austerity measures tap cafe culture

/ 03:56 PM June 01, 2016
Striking dock workers in front of a Greek flag at Piraeus, the port of Athens and Greece's largest, protest against the planned privatization of the port under new creditor-demanded reforms, on Thursday, May 26, 2016. Bailout-dependent Greece has agreed to carry out new austerity measures and reforms to secure vital rescue loans from its European creditors. (AP Photo/Petros Giannakouris)

Striking dock workers in front of a Greek flag at Piraeus, the port of Athens and Greece’s largest, protest against the planned privatization of the port under new creditor-demanded reforms, on Thursday, May 26. Bailout-dependent Greece has agreed to carry out new austerity measures and reforms to secure vital rescue loans from its European creditors. AP

ATHENS, Greece—Greeks have woken up to a new wave of price hikes that have been demanded in return for more international bailout loans, with the highest increases targeting the main ingredients of the country’s cafe culture: Coffee and beer.

Starting Wednesday, Greece’s main sales tax rate went up from 23 to 24 percent, while taxes were also raised on services used heavily by Greeks forced to cut back on leisure activities due to the financial crisis. Charges increased on internet, fixed telephone and pay-TV subscriptions.

ADVERTISEMENT

The measures were approved by parliament before Greece’s partners in the 19-country eurozone agreed to unfreeze $11.5 billion in bailout funds and begin discussions on easing Athens’ debt repayments.

Greece’s left-wing government also overhauled pensions and signed up to ambitious budget targets.

FEATURED STORIES

Subscribe to our daily newsletter


Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Bailout, Greece
For feedback, complaints, or inquiries, contact us.



© Copyright 1997-2022 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.