A 900mln difference between Quartet and Greek government

A 900mln gap divides the Quartet (EU institutions+IMF) and the Greek Labour Ministry, after Saturday’s meeting in Athens. Minister of Labour and Solidarity George Katrougalos accompanied by Greek Finance Minister Euclid Tsakalotos met with the the country’s lenders to hammer out an deal on on labour and social security matters in an effort to get the green light for a positive assessment. The issue of setting a mutually accepted national pension was at the centre of talks, with the Quartet persisting that pensions should be paid after 20 years of insurance, while the Greek side argued for a 20-year period. Katrougalos said he could not accept a further cut in the 384 Euro general pension, while he also disagreed on opening up the matter of income criteria in deterring the pension. One of the thorniest issues between the two sides was the slashing of ancillary pensions, as the IMF was adamant on its harsh proposals, which even its EU partners found too extreme.