Regling: No enough fiscal space to fully cover suspension of next round of Greek pension cuts

23 October 2018
350 Views

European Stability Mechanism (ESM) Managing Director Klaus Regling on Tuesday again dampened the poll-trailing Tsipras government’s hopes of eventually avoiding a pre-legislated social security reduction next January, saying that “fiscal space” generated from this year’s budget execution is not enough to fully cover a suspension of the austerity measure.

Speaking at a press conference in Luxembourg, Regling added that no decision has yet been taken over Athens’ pressing request to suspend the next round of pension cuts, merely noting other proposals are being discussed, without offering details.

At the same time, the head of the Eurozone’s emergency fund said there is no urgent need for thrice bailed-out Greece to return to the markets for its sovereign borrowing, saying the country could wait for up to two years.

You may be interested

US sets aside $440 million to purchase F-35s ordered by Turkey
DEFENCE
shares14 views
DEFENCE
shares14 views

US sets aside $440 million to purchase F-35s ordered by Turkey

Panos - Dec 12, 2019

The United States will set aside $440 million to buy back all F-35 stealth fighter jets ordered by NATO ally…

Paralyzed man walks using brain-controlled robotic suit
WORLD
shares11 views
WORLD
shares11 views

Paralyzed man walks using brain-controlled robotic suit

Panos - Dec 12, 2019

A tetraplegic man has been able to move all four of his paralyzed limbs by using a brain-controlled robotic suit,…

47 refugees-illegal immigrants rescued in Samos
GREECE
shares13 views
GREECE
shares13 views

47 refugees-illegal immigrants rescued in Samos

Panos - Dec 12, 2019

The Greek Coast Guard rescued and collected a total of 47 immigrants and refugees during search and rescue operations that…

Leave a Comment

Your email address will not be published.