Greece: Syriza’s anti-austerity programme – at a glance.

Radical left party Syriza, which is currently leading in the polls, announced its new programme Friday. Here’s the main points:

  • Cancel the ‘memorandum‘ between Greece and the EU-IMF and repudiate its ‘odious’ terms
  • Ask for the renegotiation of the loan agreement
  • Push for a new restructuring of the debt with the aim of reducing it
  • Or a moratorium and suspension of interest payments ‘until the economy stabilizes and shows sign of recovery’
  • Debt servicing must be linked to the Greek economy’s growth rate
  • Immediately repeal a 22 percent reduction the minimum wage
  • Extend unemployment benefit to two years from one year
  • Repeal recent labour market reforms allowing employers impose individual contracts when collective contracts expire.
  • Scrap all emergency taxes, starting with low income earners and those living close in poverty.
  • Set public spending  at between 43 and 46 percent of GDP, rather than under 36 percent as agreed in the memorandum.
  • Raise government revenues from 41 percent of GDP to the eurozone average of 45.
  • Extra revenues to be raised from taxing wealth and high incomes
  • Suspend cuts to social spending, pensions and public sector salaries
  • Creation of a register for assets for Greeks living in the country and abroad with anyone submitting false details having their assets seized
  • Change tax brackets to ease pressure on low incomes.
  • Value Added Tax to be reduced, particularly on basic goods such as milk and bread, which would boost consumption
  • Boost efforts to tackle tax evasion
  • Seek agreement shipowners to end the 58 tax exemptions that apply to their sector
  • Nationalization of all banks currently being recapitalized as part of the EU-IMF bailout.


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