George Katrougalos

The Greek Minister for Labour, Social Insurance and Social Solidarity, George Katrougalos pensioners receiving an aggregate of up to 1,300 from their main and ancillary pensions would not be affected by the cuts in pensions under consideration with Greece’s lenders in Athens.

The government is seeking alternative solutions to cover the fiscal gap worth 550 mln euros following creditors rejection of a previous proposal. Labor Minister George Katrougalos is meeting with lenders mission chiefs from the European Commission, European Central Bank, European Stability Mechanism and International Monetary Fund at 4.30 p.m. on Wednesday.

The representatives of the Institutions met at 11 a.m. with Labor Minister George Katrougalos to discuss  social security reforms.

Their meeting lasted three hours, while Finance Minsiter Euclid Tsakalotos and Economy, Infrastructure, Shipping and Tourism Minister George Stathakis were also present.

Four days ahead of strike action scheduled for Thursday, February 4, the government appears unable to appease farmers in their social security demands. The intensity of the farmers’ reaction to planned measures with road blocks around the country appear to have surprised the government with fears that the situation could create a spill-over effect of discontent to other factions.

Greece’s creditors (EC, ECB, ESM, IMF) are heading to the country on Wednesday evening following the Ministry of Labor’s submission of proposals through to 2019 (another study for Greece until 2060 is still outstanding).

Three years ago, fiery young Greek radical opposition lefty Alexis Tsipras climbed onto a tractor to give a speech to hundreds of cheering farmers. He vowed to crush harsh reforms leading to nowhere.

Labor Minister George Katrougalos, Rural Development Minister Evangelos Apostolou and Alternate Finance Minister Tryfon Alexiadis are holding a press conference on farmers’ tax and the social security system.

On Thursday, more than 6,000 white-collar professionals staged a protest rally against proposed pension reforms called for by the country’s creditors. Lawyers, doctors, pharmacists, engineers and other self-employed professionals marched while waving their neckties and decorating these on a tree of ties outside Greek Parliament.

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.

Labour Minister Giorgos Katrougalos had successive meetings with the political leaders and then with President of the Hellenic Republic Prokopis Pavlopoulos.

The draft bill on social security system will be sent to the institutions in the afternoon via email after Mr. Katrougalos’s meeting with Mr. Pavlopoulos.