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Parties disagree with proposed funding cuts

Greece's political parties made it clear this week that they are not willing to accept a reduction in the amount of state funding they receive

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Parties disagree with proposed funding cuts

PASOK voters cheering their party’s leader George Papandreou during a 2009 pre-election campaign.

5 Feb 2012

Greece's political parties made it clear this week that they are not willing to accept a reduction in the amount of state funding they receive, but are prepared to accept a chunk of that money to go straight towards paying off their large debts.

The issue of party funding was at the centre of a debate between MPs who sit on Parliament's institutions committee.

It was revealed last week that parties owe some 240 billion euros to banks, despite a regular rise in the state funding they receive.

Last year, they were awarded 54 million euros of taxpayer's money.

PASOK and New Democracy favoured a process whereby parties would receive 60 per cent of their funding directly with the other 40 per cent going toward repaying their loans.

Source: Kathimerini

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