The level of cuts to supplementary pensions continues to be the biggest obstacle in negotiations between Athens and institutional creditors, relevant Labor Minister Giorgos Katrougalos admitted on Wednesday evening after leaving a meeting with lenders’ representatives in Athens.
The level of cuts to supplementary pensions continues to be the biggest obstacle in negotiations between Athens and institutional creditors, relevant Labor Minister Giorgos Katrougalos admitted on Wednesday evening after leaving a meeting with lenders’ representatives in Athens.
Katrougalos, one of a handful of top ministers of the leftist Greek government actively engaged in now pressing negotiations with the “Quartet” of creditors, said the latter accept smaller increases in monthly social security contributions by working people and employers, instead of the 1.5-percent hike that the government initially proposed in a bid to keep Greek pensioners’ benefits intact.
He also claimed that the Greek side will submit a relevant draft bill on pension reform in Parliament, while adding that “there is a chance” that the government will accept creditors’ proposals “for certain changes”.
Earlier in the month, Athens abruptly announced that it would submit draft bills for tax increases and pension reform without the prior approval of creditors, as the third memorandum – signed last July – entails, a development that surprised Eurozone officials, European leaders and the IMF.
“Depending on the scope of these proposals for changes, we can submit the draft bill either on Thursday evening or Friday morning,” he said, while adding that the “choice” by which to achieve targets and goals “is our business”.