Greek Finance Minister Yanis Varoufakis on Wednesday said that a target for a 3% primary surplus would be catastrophic for the economy and that it was no longer under discussion. “A primary surplus could not be higher than 1.5%,” Varoufakis said on a radio interview, adding that negotiations over a debt restructuring will begin immediately. The Greek FinMin said that the government will adhere to an 100-installment offer to taxpayers with overdue tax debt although he added that organizations such as OECD had some very good ideas over how to make this legislation more clever. He noted that the government would not raise VAT on Greek islands although he said that small changes in the VAT will be done. Varoufakis made it clear that there would be no dismissals in the public sector and that the government would not cut pensions and wages. The government will also change an existing property tax later this year, while a tax-exempt ceiling of 12,000 euros would be discussed in the framework of the government’s general policy after June. (source: ana-mpa)
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