EU Wants Tough Measures From Greece

The European Union will publish a plan for Greece this week, according to Greek newspaper Ta Nea, under the headline "Urgent measures to be taken by May 15, 2010". The package includes demands to "cut average nominal wages, including in central government, local governments, state agencies and other public institutions". It also suggests new taxes on luxury goods and proposals to speed up tax payments by the self-employed. The recommendations are due to be made public on Feb. 3, according to the report. The Greek finance ministry said in a statement the measures outlined in the report were already included in its own deficit-cutting program.