The International Monetary Fund (IMF) seems to have taken over the issue of the Greek social security reform and asks for stricter measures setting it also as a prerequisite for its participation in the third bailout program.

While Labour Minister Giorgos Katrougalos claims that he has persuaded his European counterparts for the correctness of the social security bill proposed by the Greek government, the IMF seems to refuse accepting the 1.5% increase in contributions suggesting a 1% increase.

According to sources, the Institutions believe that the contributions hike is an anti-growth measure which will create more problems than those it aims to solve.

Moreover, the Institutions have asked for additional information on the pension and social security reforms, since the bill submitted by Mr. Katrougalos does not include specific costs.

According to information, the IMF also believes that the reform will not be successful unless the government proceeds to main pension cuts.