Stability cannot exist without a new pension system, says FinMin Tsakalotos

26 January 2016
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“Without a new pension system, we cannot have stability,” Finance Minister Euclid Tsakalotos on Monday said during a book presentation in Athens.

Tsakalotos pointed out that he has a duty as a Finance Minister to contribute to a stable economy through income redistribution and widely expanded tax base. He added that in his recent meetings with the six finance ministers of the eurozone at the Eurogroup, he told them that Greece cannot tolerate any further reduction in pensions, as they have already been cut eleven times.

“Pensions in Greece often correspond to family income,” he explained to his counterparts, because an entire family in Greece may live on a pension.

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