European Central Bank and Support Investments

electricity: However, Juncker said he himself opposed the proposal: "I'm not in favor, and the prime minister knows that, I'm not in favor of increasing VAT on medicaments or electricity." He said the commission had instead proposed a 35-billion-euro program to support investments in Greece and floated the idea of a "modest cut in the Greek defense budget," which constitutes two percent of the country gross domestic product, according to Deutsche Welle. Athens needs to make 'a serious move' Greece has to pay 1.6 billion euros to the IMF by the end of this month, which is also when the deadline for the country European bailout expires. Juncker spoke about Greece in a news briefing with NATO chief Jens Stoltenberg Greece creditors, which include the European Central Bank and the International Monetary Fund proposed a 10 percentage point increase in value added tax on electricity. Tsipras misleading his voters Alexis Tsipras is desperately struggling to avoid a debt default in two weeks that could force it to exit the eurozone. Washington Treasury Secretary Jacob Lew told Tsipras over a phone call that his country needed to make "a serious move to reach a pragmatic compromise with its creditors." Failing to agree "would create immediate hardship for Greece and broad uncertainties for Europe and the global economy," Lew said. mg/bw The Greek premier had earlier communicated to his allies in Athens that the EU and the IMF were proposing tax hikes to "humiliate not only the Greek government…but humiliate an entire people." His comments came shortly before a eurozone ministers meeting on Athens' debt deal, prompting the United States to press for an agreement before the crisis became even more severe. (news.financializer.com). As reported in the news.