Dif­fer­ences be­tween lenders de­lay­ing bailout re­view: Tsi­pars

The Pak Banker - - FRONT PAGE -

Greek Prime Min­is­ter Alexis Tsipras said on Satur­day that dif­fer­ences be­tween the coun­try's in­ter­na­tional lenders over its pen­sion re­form plans are de­lay­ing the first re­view of its lat­est fi­nan­cial bailout. Re­form­ing Greece's ail­ing pen­sion sys­tem is a pre­req­ui­site for the con­clu­sion of the re­view, which is ex­pected to open the way for debt re­lief talks.

The govern­ment has faced wide­spread protests over its re­form plans how­ever, as aus­ter­ity-weary Greeks push back against yet more cuts to the coun­try's wel­fare sys­tem. "There are dif­fer­ences among the lenders on Greece's pen­sion re­form that are de­lay­ing the whole process," Tsipras said with­out elab­o­rat­ing, in an in­ter­view in the news­pa­per "Sun­day's Avgi" re­leased on Satur­day. He added that the ne­go­ti­a­tions for the re­view are in the fi­nal stage and re­peated that he is will­ing to in­crease con­tri­bu­tions to the pen­sion funds to save pen­sion­ers' in­come.

On Fri­day thou­sands of farm­ers from all over the coun­try ral­lied in Athens in their first ma­jor demon­stra­tion in the cap­i­tal. The pen­sion re­forms would triple their pen­sion con­tri­bu­tions. The In­ter­na­tional's Mon­e­tary Fund di­rec­tor for Europe, Poul Thom­sen, said on Fri­day that Greece will need to im­ple­ment ex­tra mea­sures worth about 9 bil­lion euros to meet its fis­cal tar­gets by 2018.

"We can­not see how Greece can do so with­out ma­jor sav­ings on pen­sions," Thom­sen said. Tsipras was elected last year on a prom­ise to end aus­ter­ity. But he was forced to ac­cept a third bailout for the coun­try in July and is strug­gling to con­clude the bailout re­view and con­vince an­gry Greeks that af­ter six years of belt-tight­en­ing the lat­est mea­sures are worth it.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.