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First Austerity Package (Greece)
This article details the fourteen austerity packages passed by the Government of Greece between 2010 and 2017. These austerity measures were a result of the Greek government-debt crisis and other economic factors. All of the legislation listed remains in force. Background Membership in the European Monetary Union (EMU) has posed problems for some social classes, like the working class in Germany, and also on a countrywide scale for some EU members. Greece is in the latter category, along with Portugal, Ireland and Spain, presenting the problem of sovereign default, sometimes also called a "sovereign debt crisis". This situation originated with the tenuous integration of the periphery countries of the European Union into the eurozone and was made worse by the global financial crisis of 2007. Austerity was one of the policy measures available to governments to manage the economic downturn. Greek withdrawal from the eurozone is another alternative or institutional reform of the eurozo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Austerity
Austerity is a set of political-economic policies that aim to reduce government budget deficits through spending cuts, tax increases, or a combination of both. There are three primary types of austerity measures: higher taxes to fund spending, raising taxes while cutting spending, and lower taxes and lower government spending. Austerity measures are often used by governments that find it difficult to borrow or meet their existing obligations to pay back loans. The measures are meant to reduce the budget deficit by bringing government revenues closer to expenditures. Proponents of these measures state that this reduces the amount of borrowing required and may also demonstrate a government's fiscal discipline to creditors and credit rating agencies and make borrowing easier and cheaper as a result. In most macroeconomic models, austerity policies which reduce government spending lead to increased unemployment in the short term. These reductions in employment usually occur di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value Added Tax
A value-added tax (VAT), known in some countries as a goods and services tax (GST), is a type of tax that is assessed incrementally. It is levied on the price of a product or service at each stage of production, distribution, or sale to the end consumer. If the ultimate consumer is a business that collects and pays to the government VAT on its products or services, it can reclaim the tax paid. It is similar to, and is often compared with, a sales tax. VAT is an indirect tax because the person who ultimately bears the burden of the tax is not necessarily the same person as the one who pays the tax to the tax authorities. Not all localities require VAT to be charged, and exports are often exempt. VAT is usually implemented as a destination-based tax, where the tax rate is based on the location of the consumer and applied to the sales price. The terms VAT, GST, and the more general consumption tax are sometimes used interchangeably. VAT raises about a fifth of total tax revenues bo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bloomberg News
Bloomberg News (originally Bloomberg Business News) is an international news agency headquartered in New York City and a division of Bloomberg L.P. Content produced by Bloomberg News is disseminated through Bloomberg Terminals, Bloomberg Television, Bloomberg Radio, ''Bloomberg Businessweek'', ''Bloomberg Markets'', Bloomberg.com, and Bloomberg's mobile platforms. Since 2015, John Micklethwait has served as editor-in-chief. History Bloomberg News was founded by Michael Bloomberg and Matthew Winkler in 1990 to deliver financial news reporting to Bloomberg Terminal subscribers. The agency was established in 1990 with a team of six people. Winkler was first editor-in-chief. In 2010, Bloomberg News included more than 2,300 editors and reporters in 72 countries and 146 news bureaus worldwide. Beginnings (1990–1995) Bloomberg Business News was created to expand the services offered through the terminals. According to Matthew Winkler, then a writer for ''The Wall Street Journal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Popular Orthodox Rally
The Popular Orthodox Rally or People's Orthodox Alarm (Greek language, Greek: Λαϊκός Ορθόδοξος Συναγερμός, ''Laikós Orthódoxos Synagermós''), often abbreviated to LAOS (ΛΑ.Ο.Σ.) as a pun on the Greek word for ''people'', is a Greece, Greek right-wing populism, right-wing populist political party. It was founded by journalist Georgios Karatzaferis in 2000, a few months after he was expelled from the centre-right New Democracy (Greece), New Democracy. Today, the party is led by Nikolaos Salavrakos. In 2004, LAOS secured support from the Party of Hellenism and the Hellenic Women's Political Party. In 2005, LAOS absorbed the nationalist Hellenic Front. The youth branch of LAOS is the Youth of the Orthodox Rally (NEOS) (which is also a pun on the word for "youth" in Greek). The Popular Orthodox Rally was a member of the Europe of Freedom and Democracy (EFD) group in the European Parliament during the Seventh European Parliament, 7th European Parliament, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dora Bakoyianni
Theodora "Dora" Bakoyanni ( el, Θεοδώρα "Ντόρα" Μπακογιάννη; ; ''née'' Mitsotakis; el, Μητσοτάκη, links=no; born May 6, 1954) is a Greek politician. From 2006 to 2009 she was Minister of Foreign Affairs of Greece, the highest position ever to have been held by a woman in the Cabinet of Greece at the time; she was also Chairperson-in-Office of the Organization for Security and Co-operation in Europe in 2009. Previously she was the Mayor of Athens from 2003 to 2006, the first female mayor in the city's history, and the first woman to serve as mayor of a city hosting the Olympic Games. She also served as Minister for Culture of Greece from 1992 to 1993. Bakoyannis has been serving as an independent member of the Hellenic Parliament representing unofficially Democratic Alliance, the political party she founded in 2010, having been expelled from the opposition New Democracy party due to voting against the party line. In May 2012, due to the critical ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
SYRIZA
The Coalition of the Radical Left – Progressive Alliance ( el, Συνασπισμός Ριζοσπαστικής Αριστεράς – Προοδευτική Συμμαχία, Synaspismós Rizospastikís Aristerás – Proodeftikí Simachía), best known by the syllabic abbreviation SYRIZA (, el, ΣΥΡΙΖΑ ; a pun on the Greek adverb , meaning "from the roots" or "radically"), is a left-wing political party in Greece. It was founded in 2004 as a political coalition of left-wing and radical left parties, and registered as a political party in 2012. A left-wing populist, democratic socialist, progressive and social democratic party, Syriza holds a pro-Europeanist stance. Syriza also advocates for alter-globalisation, feminism, LGBT rights, and secularism. Syriza is the second largest party in the Hellenic Parliament. Party chairman Alexis Tsipras served as Prime Minister of Greece from 26 January 2015 to 20 August 2015 and from 21 September 2015 to 8 July 2019. It is a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Democracy (Greece)
New Democracy (ND; el, Νέα Δημοκρατία, Néa Dimokratía, ) is a liberal-conservative political party in Greece. In contemporary Greek politics, New Democracy has been the main centre-right political party and one of the two major parties along with its historic rival, the Panhellenic Socialist Movement (PASOK). New Democracy and PASOK were created in the wake of the toppling of the military junta in 1974, and ruled Greece alternately for the next four decades. Following the electoral decline of PASOK, New Democracy remained one of the two major parties in Greece, the other being the Coalition of the Radical Left (SYRIZA). Having spent four and a half years in opposition to SYRIZA's government, New Democracy regained its majority in the Hellenic Parliament and returned to government under Kyriakos Mitsotakis after the 2019 legislative election. The support of New Democracy comes from a wide electorate base ranging from centrists to conservatives, and nationalists ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PASOK
The Panhellenic Socialist Movement ( el, Πανελλήνιο Σοσιαλιστικό Κίνημα, Panellínio Sosialistikó Kínima, ), known mostly by its acronym PASOK, (; , ) is a social-democratic political party in Greece. Until 2012, it was one of the two major parties in the country, along with New Democracy, its main political rival. Following the collapse of the Greek military dictatorship of 1967–1974, PASOK was founded on 3 September 1974 as a socialist, democratic socialist and left-wing nationalist party. Formerly the largest left-wing party in Greece between 1977 and 2012, PASOK lost much of its popular support as a result of the Greek debt crisis. When the crisis begun, PASOK was the ruling party and negotiated the first Greek bailout package with the European troika which necessitated harsh austerity measures. It caused a significant loss in popularity as a result of the economic crisis, the party was part of two coalition governments from 2011 to 2015, d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2010–2011 Greek Protests
The anti-austerity movement in Greece involved a series of demonstrations and general strikes that took place across the country. The events, which began on 5 May 2010, were provoked by plans to cut public spending and raise taxes as austerity measures in exchange for a bail-out, aimed at solving the Greek government-debt crisis. Three people were killed on 5 May in one of the largest demonstrations in Greece since 1973. On , anti-austerity activists organised by the Direct Democracy Now! movement, known as the Indignant Citizens Movement ( el, Κίνημα Αγανακτισμένων Πολιτών, ''Kínima Aganaktisménon-Politón''), started demonstrating in major cities across Greece. This second wave of demonstrations proved different from the years before in that they were not partisan and began through peaceful means. Some of the events later turned violent, particularly in the capital city of Athens. Inspired by the anti-austerity protests in Spain, these demons ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
George Papandreou
George Andreas Papandreou ( el, Γεώργιος Ανδρέας Παπανδρέου, , shortened to ''Giorgos'' () to distinguish him from his grandfather; born 16 June 1952) is a Greek politician who served as Prime Minister of Greece from 2009 to 2011. He is currently serving as an MP for Movement for Change. Belonging to a political dynasty of long standing, he served under his father, then-prime minister Andreas Papandreou as Minister for National Education and Religious Affairs (1988–1989 and 1994–1996). He served as Minister for Foreign Affairs under Prime Minister Costas Simitis from 1999 to 2004. Papandreou was leader of the Panhellenic Socialist Movement (PASOK) party, which his father founded, from February 2004 until March 2012, and has been President of the Socialist International since January 2006. On 6 October 2009, George Papandreou became the 182nd Prime Minister of Greece. He was the third member of the Papandreou family to serve as the country's prim ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Central Bank
The European Central Bank (ECB) is the prime component of the monetary Eurosystem and the European System of Central Banks (ESCB) as well as one of seven institutions of the European Union. It is one of the world's Big Four (banking)#International use, most important central banks. The Governing Council of the European Central Bank, ECB Governing Council makes the projects for the monetary policy for the European Union with suggestions and recommendations and to the Eurozone with more direct applications of such policies, it also administers the foreign exchange reserves of EU member states in the Eurozone, engages in foreign exchange operations, and defines the intermediate monetary aims and objectives, and also the common interest rates for the EU. The Executive Board of the European Central Bank, ECB Executive Board makes policies and decisions of the Governing Council, and may give direction to the national central banks, especially when doing so for the Eurozone central ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Monetary Fund
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." Formed in 1944, started on 27 December 1945, at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international monetary system. It now plays a central role in the management of balance of payments difficulties and international financial crises. Countries contribute funds to a pool through a quota system from which countries experiencing balance of payments problems can borrow money. , the fund had XDR 477 billion (a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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