No Need to Cut Pensions, Says EU Commission Vice President



Valdis Dombrovskis (file photo)

Greece will meet the 3.5 percent primary surplus target for 2019 and therefore no pension cuts will be needed, said European Commission Vice President Valdis Dombrovskis on Thursday.

He spoke in response to a question posed by the Greek Member of the European Parliament Dimitris Papadimoulis in an address to the Parliament’s Committee on Economic and Monetary Affairs.

Regarding the return of profits from Greek bonds by the European Central Bank, Dombrovskis stated, “We are open to it. There must be a dialogue with creditors, so that this approach can work if Greece meets the goals and reforms which are a prerequisite for such debt relief measures.”

Dombrovskis is a 47-year-old politician from Latvia who currently serves as the European Commission Vice-President for the Euro and for Social Dialogue.

He was Prime Minister of Latvia from 2009 until 2014.

With information from A.M.N.A.