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Greece

Greek Parliament Votes on Cancellation of Pension Cuts

The Greek Parliament will vote on Tuesday to decide the issue of the pension cuts which were scheduled to come into force on January 1, 2019. Speaking of the E.U. promise that the cuts will not be needed, Greek Prime Minister Alexis...

Greek Parliament To Vote on Reversing Pension Cuts Next Week

The proposed law which includes an amendment to block the already-legislated cuts to pensions in 2019 will be tabled and voted on in the Greek Parliament by next week. According to state-run news service AMNA, the vote is likely to...

EuroWorking Group Suggests Greece Can Meet Targets Without Pension Cuts

The "EuroWorking" group, an advisory body to the Eurogroup of the European Union, was ''broadly positive" on Thursday regarding the Greek state budget and the European Commission's suggestion that Greece can meet the 3.5 per cent primary surplus target...

Greece and European Commission Close To Agreement on Pension Cuts

The European Commission is nearing an agreement with the Greek government to approve Greece's draft budget for 2019, European sources said on state-run A.M.N.A. on Monday. The draft budget review is a process to which all Euro-zone countries must submit. In...

Regling: 'Not Enough Fiscal Space To Cancel Greece's Pension Cuts'

Klaus Regling, chief executive officer of the European Financial Stability Facility and Managing Director of the European Stability Mechanism (ESM), said in an interview on Tuesday that even though Greece will achieve a high primary surplus for 2018, this...

EU Approves Greek Budget, No Pension Cuts, PM says

Greece's Prime Minister, Alexis Tsipras, announced on Saturday that the European Union’s executive approved Greece’s first post-bailout budget without the requirement of implementing legislated pension cuts. Tsipras referred to the approval of the Greek budget as a "success," as he...

IMF on Greece: 3.5 pct Primary Surplus, No Pension Cuts Postponement

The International Monetary Fund (IMF) released its renewed Fiscal Monitor for October. There, the fund revised Greece’s 2019 growth rate upwards and accepted that it made a mistake regarding the last year's Greek primary surplus. The IMF had predicted that Greece...

Germany Puts Plans to Postpone Greek Pension Cuts On Ice

The saga over whether pensions in Greece will be slashed or not from January 1 took another twist as Germany signaled that the decision will not be reached until December. Athens argues it has enough fiscal leeway to unwind cuts...

Greek Government to Table Budget Draft Without Pension Cuts

Greece's Finance Minister Euclid Tsakalotos The Greek government on Monday is to table in parliament the 2019 budget draft leaving out the pension cuts that have been agreed with creditors to go into effect January 1st. According to a government source,...

Greek Pension Cuts: Decision to Be Made by December, According to EU Official

According to Eurozone officials, the decision regarding the issue of the scheduled for January 2019 Greek pension cuts will be made in December, after a full examination of Greece's budget draft for 2019. This issue is not included in the...

'No Agreement For Cancellation of Pension Cuts' Greek Government Source Says

A high-ranked source from within the Greek Government has denied the claims that Athenian and Macedonian News Agency's report made regarding an alleged deal between the Greek Authorities and the European Institutions regarding the issue of the upcoming pension cuts...

Greek Pension Cuts 'Maybe Cancelled' – Report

A report by the Athens-Macedonia News Agency (AMNA) says that the pension cuts scheduled to come into effect from the beginning of 2019 maybe cancelled in agreement with Greece's lenders. The semi-official agency quotes unnamed sources saying that the "institutions...

What's Been Agreed Has to Be Implemented, Juncker Says on Greece's Pension Cuts

The President of the European Commission, Jean Claude Juncker, held an interview with journalists following his State of The Union speech in the European Parliament. Mr Juncker was asked by a Kathimerini journalist about the issue of the upcoming cuts...

Eurozone Official Says Discussion to Suspend Upcoming Pension Cuts 'Premature'

A senior eurozone official has said that the issue of upcoming pension cuts will go forward as soon as representatives of Greece's creditors go to Athens in late September for the first post-bailout inspection. The Greek government has recently stated...

IMF Sees Fiscal Gap for Greece, Pension Cuts Might Come Sooner

The International Monetary Fund foresees a fiscal gap of 2.3 billion euros in the 2018 budget, which might mean that the pension cuts scheduled for January 1st, 2019 will be implemented earlier. Greek finance ministry sources downplay the IMF forecast...