Creditors ‘Quartet’ drops new bomb with calls to drastic pension reductions
Greek officials from the Ministry of Labor took part in a teleconference with technical representatives of Greece’s creditors of the so-called Quartet. They appeared ready to harden their stand, calling for more cuts while also expression their objections to the national pension rate.
New pension rates are at 65-67% of wages, whereas the creditors had called for these to be not be more than 55%.
They said that they would return to Athens only when they recieve a comprehensive data concerning the proposals of Labor Minister George Katrougalos. A fiscal goal aimed at economizing 1.5% of the GDP is sought for the period from 2016-2018.
On its part the Labor Ministry tried to address leaks concerning demands for cuts to main pensions by downplaying creditors demands.
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