Troika agrees to cut Greek VAT

BERLIN: The "troika" team reviewing Greece's progress in meeting fiscal targets has agreed to a a cut in value-added tax in a bid to win political consensus for more austerity, a source in Germany's ruling coalition said on Tuesday.

"They have agreed on it," the source said, declining to be named. The comments confirm a Greek newspaper report earlier on Tuesday which said Athens and the team of EU, IMF and ECB inspectors had agreed to lower the VAT rate.

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