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Euro Working Group gives green light to Greece to scrap pension cuts

The Euro Working Group has reportedly given the green light to Greece to scrap implementation of further pension cuts as of 1. January 2019.

Citing a well-informed source, state news agency amna reported Thursday afternoon that the heads of the eurozone finance ministries were “warmly positive” about the Greek budget and the European Commission suggestion that Greece can achieve a primary surplus in 2019, without cutting pensions.

The positive measures in the Greek budget are in the direction of development, the same source said.

So far there is no official statement either by the EWG or the Greek Finance Ministry.

According to procedures, the final decision will be taken at the Eurogroup meeting beginning of December, where the budgets of all the EZ member states will be discussed.

The official recommendation by the European Commission on EZ states budget will be published on November 21.

Greece has recorded a mammoth primary surplus of €6.46 billion in the period January-October 2018 well above the target.

However, this most probably happened due to no return of taxes to taxpayers, cut state investment and not pay out of full pensions.

One of my aunts, 82, has been struggling to “live” on a widow pension of 324 euros for the last 17 months. This is pension in advance; she was supposed to have received 50% the full pension of her deceased husband already last year.

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