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> Economy

Govt eyes other measures to squeeze equivalent funds to avoid pension cuts

The government is even looking to the roads in the hope of finding extra funds needed to appease creditors at the start of 2016

Newsroom December 29 10:07

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The Greek Radical Left Coalition (SYRIZA) is seeking to line its coffers with revenue from additional sources so as to appease creditors (EC, ECB, ESM, IMF) in the first decameron of 2016, possibly January 8. The goal is to cover a 700-mln-euro fiscal gap without having to reduce main pension rates.

Ministries are eyeing Greece’s roads where they may be able to yield additional fines, however another option would be to add a special duty for bank transactions, according to an exclusive reportage in Proto Thema. A tax on lucky games is also being considered as well as money to be yielded from privatizations.

The axes of the Greek proposal are to be discussed today at the meeting of the government social policy council.

Meanwhile, cuts to dividend rates, lump sum payments and supplementary pensions over 170 euros per month have been locked. The viability of the single supplementary insurance fund (ETEA) is being considered so that the government can decide how deep the slashes will be. There are already eight cuts being considered.

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State Minister for Coordinating Government Operations, Alekos Flambouraris, already stated that the draft bill on pensions will secure main pensions and will restrict cuts to subsidiary pensions to around 15-20%.

Apart from slashes there are other measures to be introduced such as a lifting of the retirement age and the abolition of the social solidarity pension fund (EKAS).

 

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