Giorgos Katrougalos

In an interview with Sunday edition of Kathimerini newspaper Labour Minister Giorgos Katrougalos claims that he is political flexible to proceed to changes that do not involve issues of principle.

“For the first time we will have one speed pensioners,” Labour Minister Giorgos Katrougalos on Friday said in a press conference on social security reforms trying to defend the new draft law.

While thousands of pensioners are trying to realize that their pension will not exceed the amount of 600 euros with poverty line set at 665 euros, Labour Minister Giorgos Katrougalos makes great efforts to convince Greek citizens that it is not true that there would be huge pension cuts accusing opposition of telling lies to the people.

The draft law on social security reform was presented on Monday to the political leaders by Labour Minister Giorgos Katrougalos and then sent to the Institutions to be reviewed. Therefore, a tough month of negotiation talks is expected until we see the final law on social security reform which will be tabled to Parliament for approval.

PASOK leader Fofi Gennimata met with on Monday with Labour Minister Giorgos Katrougalos in order to be briefed about the new social security draft law.

After their meeting Mrs. Gennimata said that PASOK will not consent to further pension cuts or increased social insurance contributions while calling on the government to negotiate “seriously and responsibly”.

The new social draft law presented by Labour Minister Giorgos Katrougalos provides a 15% reduction in pensions over 750 euros for new pensioners

According to estimates, for about 40 years fully insured, the replacement rate is set at 60% of pensionable salary, while the new draft law abolishes the previous gross pension calculation.

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.

Labour Minister Giorgos Katrougalos met with the representatives of the institutions on Thursday and presented the alternative plan of the Greek government   for the protection of “main pensions”, an issue that the government has drawn up as a red line.

Labour Minister Giorgos Katrougalos met on Thursday with ILO general director Gay  Guy Ryder.

Their talks focused on labour relations and Katrougalos thanked Mr. Ryder for the support of ILO towards Greece during the memoranda period and on labour issues such as collective contracts and mass layoffs.

Labour Minister Giorgos Katrougalos announced that the final bill will be submitted to the Parliament in November leaving open the possibility of imposing taxes on great wealth and new contributions to business activities to raise money for the insurance funds.