  According to Boutillier, Darwiche, Pearl and others, principles for iterated
revision can be characterised in terms of changing beliefs about conditionals.
For iterated contraction a similar formulation is not known. This is especially
because for iterated belief change the connection between revision and
contraction via the Levi and Harper identity is not straightforward, and
therefore, characterisation results do not transfer easily between iterated
revision and contraction. In this article, we develop an axiomatisation of
iterated contraction in terms of changing conditional beliefs. We prove that
the new set of postulates conforms semantically to the class of operators like
the ones given by Konieczny and Pino P\'erez for iterated contraction.
