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Tag Archives: pension cuts

Tsipras: EU Commission approved Greek budget without pension cuts

The European Commission has approved Greece’s first post-bailout draft budget without requiring the implementation of legislated pension cuts, the Greek prime minister said on Saturday. “The European Commission approved the Greek budget without pension cuts after eight years of austerity,” Tsipras said, calling the development a “success”. There has been …

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Pension cuts: IMF refers Greece to its “European partners”

The International Monetary Fund referred  Greece to Brussels, when Finance Minister Euclid Tsakalotos presented the government’s arguments that cutting pensions was not a structural measure. During the meeting with IMF’s Managing Director Christine Lagarde and the head of the Fund’s European department Poul Thomsen in Bali, Tsakalotos argued that there …

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Germany tells Greece “Nein” to freezing of further pension cuts

Germany says Nein to freezing of further pension cuts and calls on Greece to stick to the reforms path as agreed in summer with the completion of the third bailout program. It was the press office of Chancellor Angela Merkel that sent the dry message following a question by Greek …

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Eurogroup chief Centeno, Greek Budget 2019 leave space to avoid pension cuts

Head of Eurogroup Mario Centeno opened the door a bit wider for the possibility that the measure for further pension cuts may not be implemented as of 1.1. 2019. The measure is “a fiscal” one and not a “structural measure,” he said on Monday. He suggested that there may be …

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Greece gov’t dismiss reports deal with creditors to scrap pension cuts measure

To cut or not to cut? The  upcoming austerity measure of pension cuts as of 1.1. 2019 became top on the agenda of political debate between the government, the opposition parties and the media on Friday. An exclusive report by Athens News Agency said that Greece’s creditors considered the “social …

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Gov’t priorities: Increase minimum wage, tax relief, no further pension cuts

Increase in minimum wage, tax relief, efforts to avoid the upcoming further cuts in pensions and the broadening of the tax-free basis. These are the targets of Greece’s coalition  government SYRIZA-ANEL now that the country has exited the last bailout program. The government targets for the next day is the …

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“Liar! Crook! Sycophant!” Greece’s political leaders duel over homme fatal Moscovici

Greece’s prime minister, Alexis Tsipras, and main opposition leader, Kyriakos Mitsotakis from conservative New Democracy, exchanged “French” for the sake of  homme fatal, the EU Commissioner, Pierre Moscovici, during a Plenary debate about Greek economy  on Thursday. Reason for the verbal  duel between the prime minister and the main opposition …

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“Greek pensioners’ high ageing rate is reason for main concern,” says EU report

European Commission technocrats must have been in a trolling mood when they wrote the Pensions Adequacy Report 2018. They raise concern about the cuts in pensions and low-pensioners benefits they demanded from Greece to implement in the context of the 3. bailout as “all these provisions are expected to have …

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Juncker says further pension cuts ‘bad advice”, calls on Eurozone to draw up debt relief measures for Greece

European Commission President Jean-Claude Juncker urged euro zone countries to draw up more debt relief measures for Greece next month. He said that Athens needed help after making “huge progress” in its economic reforms. “Further pension cuts is a bad advice,” Juncker said. In an interview to Greek economic news …

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Greece resists to IMF’s demands for further pension cuts

Greece cannot accept demands from the International Monetary Fund to cut its pensions yet again in order to achieve a primary surplus target in two years, Greek Finance Minister Euclid Tsakalotos said on Thursday. Athens has proposed an overhaul of its pension system to make the system viable by increasing …

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Greece:Pension Reform Bill-Shocking Changes on the Way

Five new changes in Pension Reform Bill are required by the EU/ECB/IMF-troika, currently in Athens for consultation with the Minister of Labor. Speaking yesterday morning in ANT1 (the TV show “Good Morning Greece), Labor Minister Andreas Loverdos said that the troika, fearing a possible collapse of the Pensions/Insurance Institutions, calls …

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