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The fresh measures will include increased taxes on consumption (Photo: John D. Carnessiotis, Athens, Greece)

Greece readies fresh round of austerity worth €25bn

The Greek government is readying a raft of fresh austerity measures aiming to raise some €25 billion over the next four years.

According to Greek daily Kathemerini, the measures will focus on tax hikes rather than cuts to social services this time, with an increase in road tax, the extension of excise duties to non-alcoholic beverages and a boost in the VAT rate from 13 percent to 23 percent on certain items.

A number of public bodies will be closed down and a restructuring of wag...

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The fresh measures will include increased taxes on consumption (Photo: John D. Carnessiotis, Athens, Greece)

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