Final draft of pension system reform will be ready on Monday
The final draft of the critical pension system reform will be submitted to the institutions on Monday and is later expected to be tabled in Parliament in late January.
According to the proposal drafted by Labor Minister Giorgos Katrougalos and presented to PM Alexis Tsipras on Wednesday, there will be reductions in main pensions or supplementary pensions under 170 euros.
The proposal also increases employer insurance contributions by 1% and employee contributions by 0.5%. It is also believed that taxes on banking transactions may be introduced to secure 700 million euros to avoid any cuts in main pensions.
The institutions expect to receive the Greek proposal by the 5th of January, after which point negotiations are set to begin via email and teleconferences. The aim is to reach an agreement on the pension reform when the institutions return to Athens later in January.
You may be interested
EU Poll: Greeks overwhelmingly convinced of widespread corruptionmakis - Dec 12, 2017
Corruption in Greece is an ongoing political issue, that has been debated to death over the past 35 years. Now…
Turkish PM Yildirim escalates rhetoric against Greecemakis - Dec 12, 2017
Two days before his arrival in Greece, Turkish PM Binali Yildirim directly disputed the current Status Quo in the Aegean…
One in three Greeks unable to afford basic material goodsmakis - Dec 12, 2017
One in three Greeks or 32% in 2016 were unable to enjoy basic material goods and social benefits, according to…