Reportedly EU Commission to offer Greece a compromise deal to unlock EFSF funding, with conditions; IMF would not be party to new deal - Greek press
- Deal includes primary budget surpluses: a 2015 primary surplus of 0.75% of GDP, a 2016 surplus of 2% of GDP, 2017 surplus of 3.5% and a 2018 surplus of 3.5%
- Reform of VAT taxes, to be applied after summer (most likely by October 1), providing for a uniform rate of 18% for cash transactions and 15% for card transactions and maintaining the low rate of 6.5%.
- Increase extraordinary tax on annual incomes above 30,000 euros to pre-reduction levels, maintains the ENFIA tax
- A zero deficit in the subsidiary clause, but this will be reviewed as part of the dialogue to be launched in autumn for the sustainability of the pension system
- Reportedly there is a special chapter regarding the IMF, which has reservations about the new deal. Reportedly EU officials believe the IMF will not fund Greece, but at the same time will not make public complaints and recommend providing support from the EFSF.