Greece, lenders said to have reached deal on key labor reforms, pension cuts

29 March 2017
256 Views

Greece has reached an agreement with its lenders on key labor reforms, spending cuts and energy issues, moving closer to clinching a preliminary deal before a meeting of eurozone finance ministers on April 7, sources close to the talks said on Wednesday.

Greece will cut pension spending by up to one percent of GDP in 2019, two officials told Reuters on condition of anonymity. Lowering the tax-free threshold to about 6,000 euros to save roughly another 1 percent of GDP has also been agreed, an EU official said.

On labor reforms, Greece will not be forced to liberalize mass layoffs further, as initially demanded by the IMF, two officials said. Collective bargaining, which was weakened as part of bailout reforms in 2012, is expected to be revived after the country’s current bailout program expires in 2018.

You may be interested

Mykonos! The island where some bread slices cost 28 euros!
GREECE
shares18 views
GREECE
shares18 views

Mykonos! The island where some bread slices cost 28 euros!

makis - Jun 20, 2018

A Spanish bakery claims to sell the world’s most expensive bread in the world at €106 a loaf. OK, that…

Panathinaikos FC agree to terms with coach George Donis
GREECE
shares14 views
GREECE
shares14 views

Panathinaikos FC agree to terms with coach George Donis

makis - Jun 20, 2018

Manager George Donis will be at the helm of Panathinaikos FC, after the two parties agreed on terms on Wednesday.…

Kammenos: Plan to bribe party MPs in full swing
POLITICS
shares12 views
POLITICS
shares12 views

Kammenos: Plan to bribe party MPs in full swing

makis - Jun 20, 2018

Panos Kammenos, the President of ANEL (Independent Greeks), the junior partner in the coalition government in Greece, alleged major opposition…

Leave a Comment

Your email address will not be published.