Labor Minister Giorgos Katrougalos expressed his hope that the government will reach an agreement with the representatives of the institutions on social security noting that there was a progress during the negotiation talks.

Mr. Katrougalos said that the progress concerned the replacement rates and supplementary pensions, but he did not give any details.

Regarding the increase of contributions, the lenders did not seem to be totally against it.

“We hope to close the deal during Saturday’s meeting” , Mr. Katrougalos said stressing that there would be no compromise, unless both sides make mutual concessions.