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Creditors soften spending cuts requirements for Greece by €12 billion — Juncker

June 29, 2015, 17:36 UTC+3 BRUSSELS
According to President of the European Commission, the Greek population must clearly understand the essence of the creditor’s proposals that have been rejected by the country’s government
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President of the European Commission (EC) Jean-Claude Juncker

President of the European Commission (EC) Jean-Claude Juncker

© EPA/OLIVIER HOSLET

BRUSSELS, June 29. /TASS/. The creditors have softened their requirements to the Greek budget spending cuts by €12 billion in negotiations since the beginning of the year, President of the European Commission (EC) Jean-Claude Juncker told a news conference on Greece on Monday.

"Greek citizens who are being called to vote next Sunday need to have a clearer picture of what’s at stake," Juncker said. According to him, "Our sole concern has been to make a fair and balanced deal. This is certainly a demanding and comprehensive package, but it is a fair one... This is not a stupid austerity package," he said. According to him, the Greek population must clearly understand the essence of the creditor’s proposals that have been rejected by the country’s government.

The creditors have demanded Greece to make €12 billion less spending cuts, compared to the demands as of the start of the year. These proposals do not include pension cuts, only the military spending cuts. Juncker said that contrary to media statements, "no pension cuts [are] in this package" of proposals. The creditors’ package also "creates more social fairness, more growth and a more transparent public administration," he said. The creditors also propose less tax relief for ship owners and stepped-up efforts against corruption and the enforcement of an independent tax administration. "Who could be against this?" said Juncker.

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