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A brutal deal for Greece

European Union and Greek flags are seen in a vendor kiosk during a pro euro rally in front of the Greek Parliament in Athens Greece, on July 9, 2015.

GREECE is to:

  • Streamline Value-Added Tax or VAT (for example, a 23 per cent sales tax on businesses, including tourism) and broaden its tax base to increase revenue.
  • Institute measures to carry out comprehensive reforms and improve long-term sustainability of its pension