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2 unusual facts about Greek government-debt crisis countermeasures


Greek government-debt crisis countermeasures

On 19 August 2011 the Greek Minister of Finance, Evangelos Venizelos, said that new austerity measures "should not be necessary".

Showing position of disagreement, the transport minister Makis Voridis from the Popular Orthodox Rally party, along with five deputy ministers from various ministries, decided to resign.


Coat of arms of Greece

The Greek government normally uses a design in which the laurel branches are monochrome blue.

Kanalia

Since 2001 the Greek Government has attempted to reconstruct the lake to its previous size, through the financial aid of European Union and Natura 2000.

Pari passu

In the European Union, as the result of the Greek government-debt crisis, a retroactive Collective action clause passed by the Greek government with the support of the ECB and IMF, enabled the debtor (who also controlled the courts) to impose a 70% loss of the creditors, more than 75% of whom had voted in favour of the cut.

Tax amnesty

On September 30, 2010, the Hellenic Parliament ratified a legislation pushed through by the Greek government in an effort to raise revenue, granting tax amnesty to millions of Greek citizens by paying just 55 percent of the outstanding debts.


see also