Wall Street Journal
August 20, 2010
The Greek government is preparing a series of new tax increases and spending cuts to comply with deficit limits set for 2011 by the International Monetary Fund and the European Union.
Two senior government officials, speaking on the condition of anonymity, said the package will be presented to the Greek parliament in November.
As part of a its agreement for the €110 billion ($141 billion) EU/IMF rescue package in May, the government agreed to raise another €9.1 billion in new proceeds next year.
Some €2.5 billion will be carried over from measures already imposed this year. The government seeks to generate another €5 billion with new taxes, with the balance to come from unspecified spending cuts.
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