International Perspective: Trouble for Pensions in Greece

INTERNATIONAL-PERSPECTIVEGreece’s economic woes have been in the news quite a lot recently. “As it confronts creditors over its huge debts and how best to recover from a still-crippling downturn . . . Greece’s big creditors — other eurozone countries, the International Monetary Fund and the European Central Bank — have done little to solve the problem. Instead, they have imposed deep cutbacks on pensions, as much as 48 percent in some cases, and further weakened the pension funds by, among other measures, pressing them to accept huge losses as part of the country’s debt write-down. Now, even as their austerity policies have driven more Greeks out of the work force and into the pension system, the creditors are seeking deeper cuts still.” How does this affect individual retirees? Read more here.

 

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One Response to International Perspective: Trouble for Pensions in Greece

  1. Rollin Ressegieu says:

    NO SURPRISE TO ME !

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