Bill can­cel­ing pen­sion cuts marked ur­gent

Kathimerini English - - Focus -

Greek law­mak­ers have agreed to fast-track draft leg­is­la­tion to can­cel a ma­jor round of pen­sion cuts sched­uled to take ef­fect on Jan­uary 1, after bailout lenders agreed they were no longer needed for the coun­try to bal­ance its bud­get. A com­mit­tee in the Greek Par­lia­ment voted yes­ter­day to de­bate the amend­ments as emer­gency leg­is­la­tion, can­cel­ing ar­ti­cles in a law voted last year that would im­pose cuts worth 1 per­cent of Greece’s gross do­mes­tic prod­uct. Ac­cord­ing to Euro­pean Com­mis­sion es­ti­mates, the mea­sures would have seen 1.4 mil­lion out of Greece’s 2.6 mil­lion pen­sion­ers suf­fer a monthly loss of at least 14 per­cent. Greece emerged from its third suc­ces­sive

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