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pension cuts

Tsipras: German Taxpayers are Not Paying for Greek Pensions

German taxpayers are not paying for Greek pensions and the creditors' insistence on pension cuts is inexplicable, Greek Prime Minister Alexis Tsipras told a German newspaper. "The insistence on exchange of arguments during negotiations is legitimate as long as there...

European Commission Rebuts Greece's Claims of Austerity Demands by Creditors

The European Commission officially rebutted Greece's claims and press leaks that creditors ask for irrational austerity measures in order to come to an agreement. European Commission chief spokesperson Margaritis Schinas and Coordinating Spokesperson for Economic and Financial Affairs Annika Breidhardt spoke...

Tsipras: 'Creditors Must Acknowledge Their Program Failed'

Greek Prime Minister Alexis Tsipras is willing to reach an agreement with the creditors, if they made a few concessions, despite the fact that they have not yet admitted the failure of their program. In an interview with the...

Proposed Measures Cross 'Red Lines' Greek PM Tsipras Had Set

Several of the measures proposed by creditors in order to achieve an agreement belong to the "red lines," thereby they were rejected by Greek Prime Minister Alexis Tsipras in the early morning hours on Thursday in Brussels. "Greece cannot consider further...

Zero Deficit Clause in Greek Pensions Not Repealed, but Suspended

Social Security General Secretary Giorgos Romanias stated that the zero deficit clause in supplementary pensions will not be repealed, but it will be suspended indefinitely. Romanias spoke to Greek television on Monday saying that the Greek government has decided to...

Greek Gov't to Propose Tax Hikes, High Pension Cuts to Lenders

The Greek government is ready to propose tax hikes and high pension cuts to lenders as part of reforms in order to unlock liquidity for the Greek economy. Also, labor market legislation is put on the negotiation table. So far...

Greek Government Will Not Implement Pension Cuts

The Greek government will abide by the Council of State's decision regarding the pension cuts of Greek citizens, assured Secretary General of Social Security Giorgos Romanias. “If the Council of State rules that cuts to basic and supplementary pensions made in...

German Chancellor Asked Greek Prime Minister to Reduce Pensions

German Chancellor Angela Merkel asked Greek Prime Minister Alexis Tsipras to reduce pensions, said Deputy Finance Minister Dimitris Mardas. Speaking on Greek television on Monday, the Deputy Minister referred to the recent meeting of the two countries' leaders in Berlin and the...

New Pension Cuts to be Expected After March

Troika has given a short cooling-off period to the Greek coalition government. This leaves the Greek government with only one choice. If the new measures do not bring the results hopes for, the government will have to take action...

To Fight Deficit Greek Retirement Age Must Rise To 82

New cuts in pensions are being projected for 2012, since insurance funds are facing a tremendous deficit of 4.5 billion Euros for 2011. Labour Minister George Koutroumanis did not hide any aspect of the dramatic situation the Greek people are...