The Greek parliament approved a package of tough reforms demanded by the country’s creditors in return for a bailout. The latest (3rd) Greek bailout deal: • Wider tax base to increase revenue • Consumer and corporate tax increases • Retirement age raised to 67 by year 2022, aid to indigent seniors phased out by end of 2019 • Labor markets opened up, unions modernized • Overhaul of civil judicial system to accelerate cases, reduce costs • Greek assets will be placed in a trust fund, not controlled by Greece’s government. Assets can be liquidated to repay debts.
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