The four associations representing Greek employers on Thursday issued a joint announcement after their meeting with Prime Minister Alexis Tsipras, saying they were not opposed to a reasonable increase in social security contributions.

The announcement said that they had an extensive discussion with Mr. Tsipras on supporting the competitiveness of Greek businesses and employment and social cohesion.

The government’s new law provides a 1.5% increase in social security contributions (1% for employers and 0.5% for employees).

According to government’s sources, the employer associations, even though they did not wish for any increase in contribution, they accepted government’s proposal for a reasonable increase in order to support the pension system, which was set at 1% (0.5% for employers and 0.5% for employees).