A “black hole” in Greece’s social security system is estimated to reach a whopping 14.6 billion euros, of which 50 percent deals with debts accumulated by the state health care system (EOPPY).
The figures bodes ill for the future of the country’s pension and health system, despite very recent austerity measures passed the leftist Greek government to cut monthly benefits of certain categories of retirees and to raise contributions by working people and their employers.
According to figures presented at a recent conference of union representatives for pension fund employees, EOPPY’s debts are 7.1 billion euros, with the biggest pension funds, IKA and OAEE, fielding a deficit of three billion euros
