Greek Labor Minister Confirms Cuts on Pensions Over €1,000



newego_LARGE_t_1101_54457354Greece’s Labor Minister Giorgos Katrougalos confirmed that there will be cuts on pensions over 1,000 euros, when initially it was said that only pensions over 1,500 euros would be affected.

On Wednesday the minister said that his ministry will do everything possible to protect pensions below 1,000 euros combined (main and supplementary pensions).

The government has to reduce pension expenditures by 1.8 billion euros in 2016. Also another 1.6 billion euros in expenditures should be cut to cover gaps in social security funds.

The Labor and Social Security Ministry will have to introduce a social security reform by November 15 which will reverse the majority of the measures voted in the summer. This will be a part of prior actions required for the disbursement of a bailout tranche worth 2 billion euros.


3 COMMENTS

  1. Oh irony. After ranting, striking and rioting for years against cuts by Samaras, the hypocrite Marxist they voted into office is now making cuts even more massive.

    Unfortunately about half the Greek population are irrational far left extremists. The extent of their ability to rationalize is slandering anyone that objects to the communists they put into office as fascist and trying narrate their election of communists into office as moderation.

    They are so deluded they have confused their popularity in Greece with being popular elsewhere. Most of the rest of the world sees our leftist as incompetent fanatics (including other far more moderate leftists in the EU who ridiculed them during memorandum negotiations)

  2. the marxist narrative of rich vs poor seems to work in times of crisis – then they typically open the floodgates to muslim illegal immigrants and label anyone who disagrees with them as nazis when in fact they behave worse than nazis themselves – they curtail free speech, jail people who disagree with them, lie to get elected… the list goes on