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2015-06-27

Greece is being blackmailed. Exiting the eurozone is its way out


posted at 15:31

Instead of acceding to the troika’s devastating demands, Syriza should free the country from the trap of the common currency – if the Greek people agree

by Costas Lapavitsas

A few days ago the Greek government submitted a list of proposals hoping to break the deadlock with the “institutions” – the European Commission, the International Monetary Fund and the European Central Bank. The government basically agreed to tough primary surpluses: 1% in 2015 and 2% in 2016. To achieve these targets it proposed to raise VAT on a range of widely consumed goods as well as imposing a host of taxes on enterprises and families of “high” income. It also proposed substantial savings on pensions. The measures added up to roughly €8bn over 2015-16, and would be immediately implemented





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