Greece needs to build a long-term, sustainable, less fragmented and more just pension system, European Commission Vice-President Valdis Dombrovskis told reporters on Monday.
Dombrovskis spoke to the press on the sidelines of Monday’s meeting of Eurozone finance ministers where Greece’s progress on the bailout-required reforms was discussed.
The European official underlined that pension system reforms in Greece are linked to the targets set in the country’s 2016 budget which was ratified last week. He also stressed the importance of the first program review expected in early 2016.
“The important issue is going to be the first program review which we expect early next year and recent Greek parliament vote on 2016 budget aiming to reach a primary surplus target set in this program is an important step in this direction,” Dombrovskis said.
“However, now we need to continue discussions with Greek authorities on how exactly those targets are going to be reached and probably the important element there is the situation regarding pension reform because it is first needed to ensure a long-term, sustainable, less fragmented and more just pension system in Greece, but it also has substantial tax implications,” he added.
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