Greece’s lenders request the EKAS allowance to be abolished earlier than it was first scheduled or change the income criteria for this year, so as more pensioners will not qualify for EKAS, in order to cover the gap of 100 million euros created after deciding the low pensioners will not be asked to return it retrospectively.

Specifically, the social security law provides that EKAS allowance will be abolished gradually from 01/01/2016 until 31/12/2019.

However, since the four-year transitional period was cut to 6 months, it is considered to abolish EKAS allowance earlier than expected so as to cover the gap created this year.

Lenders reportedly rejected the proposal of the Greek side to cover this gap using the state budget surplus.