Greek Employer Unions Agree to Increased Contributions to Social Security System



tsipras businessRepresentatives of Greece’s employer unions claimed they are not opposed to a temporary increase in contributions to the country’s social security system, which is set to be reformed.

Greek Prime Minister Alexis Tsipras met with the country’s four employer unions on Thursday afternoon to discuss the government-proposed social security reform. Among the reform’s prescriptions is an increase in monetary contributions to the system.

“We have a responsibility, the government and the production agents in the country, to sit down and find the best options that will foster the possibility to secure the viability of the social security system. I believe that it is something we owe to the next generation,” he said before the meeting.

Tsipras also argued that Greece is one step before having some of its debt reduced, a move that would take it one step further away from the crisis.

Greek newspaper Protothema.gr reported that the union representatives agreed to a 1% increase in contributions, while the government had initially proposed a 1.5% increase. Half of this 1% will be contributed by the employers and another half by the employees.

The four employer unions also noted their intend to work closely with the government to promote investments and financial stability, outlining three main priorities: establishing a stable and increasingly favorable taxation scheme, fostering a business-friendly environment, and creating motives for investment and growth in Greece.