Quartet-Katrougalos meeting in progress

7 April 2016
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The meeting between Greece’s creditors (Quartet) and the country’s Labour Minister George Katrougalos is in progress in Athens, Thursday, in an effort to reach a deal on matters of reforms in the social security system.

According to sources in the Greek Ministry, the two sides are close to agreeing on the rate of a national pension, while the cuts in ancillary pensions still remains a matter of contention.

The Greek side argues it cannot go below a 40 percent slash in ancillary pensions with a 1,400 Euro monthly safety net.

The IMF is insisting on a zero budget deficit clause, with the Greek side proposing a sustainability clause that could cover any deficits through the selling of public assets. Greece’s lenders are reportedly tabling new issues like setting the widow pension level at 57 years old.

The Quartet is scheduled to meet later Thursday with Greek Minister of Productive Reconstruction, Environment and Energy.

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