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

23 October 2018
284 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

Milos the best island in Europe: Travel + Leisure
GREECE
shares119 views
GREECE
shares119 views

Milos the best island in Europe: Travel + Leisure

Panos - Aug 22, 2019

The readers of the famous ”Travel + Leisure” magazine recently voted the Greek island of Milos as ”the best island…

Fidel Castro’s crocodile bites elderly man at party in Sweden
WORLD
shares30 views
WORLD
shares30 views

Fidel Castro’s crocodile bites elderly man at party in Sweden

Panos - Aug 22, 2019

A man in his mid-70s has been bitten at a party by a crocodile that once belonged to Fidel Castro.…

Over 1,000 kilos of cannabis seized in Gytheio in Peloponnese
GREECE
shares27 views
GREECE
shares27 views

Over 1,000 kilos of cannabis seized in Gytheio in Peloponnese

Panos - Aug 22, 2019

Greek authorities have seized a massive haul of cannabis at a cove near the town of Gytheio located in the…

Leave a Comment

Your email address will not be published.