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EU Commission on Greece's Pensions Cuts: Apply What Has Been Agreed

The European Commission has dismissed the report by the Athens-Macedonian News Agency (AMNA) that claimed that Greece’s creditors have agreed to cancel the pension cuts due to come into effect in January.
Commission spokesman Alexander Winterstein, asked to comment on what the anonymous sources told AMNA, said:
“There is only one source, do not listen to anything else.”
He then went on to refer to the quote by Jean-Claude Juncker, the Commission President, who on Wednesday made it clear that Greece needs to apply what has been agreed in the post-bailout era.
Acta sunt servanda” (what has been agreed should be applied), Juncker had said.
Athens argues it has enough fiscal leeway to unwind cuts in pensions of up to 18 percent that are scheduled to kick in from January, while maintaining the healthy surplus its lenders say it needs in order to keep its finances on a sustainable trajectory.
Reuters quotes one source from the lenders stressing that speculation that the inspectors agreed with Greece’s view was premature. “A good deal of work is still required.”
A second source said there had been no conclusion to discussions on the pensions system.
The final decisions are expected to be taken at the Eurogroup meeting on November 5.

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