EWG appears positive on non- implementation of pension cuts measure

The representatives of the Finance Ministries of the eurozone countries appeared positive on the non-implementation of the pension cuts measures in Greece during Thursday’s meeting of the Euroworking Group, said to Athens-Macedonian News Agency a well informed eurozone source.

In Thursday’s meeting on Greece, EWG was briefed on the Greek authorities intention not to proceed with the further 1 pct cut in pension, a measure decided in 2017 as ‘a measures of emergency’. Greece with European Commission and European Central Bank’s support argued that the primary surplus 3.5 pct target will be met without the pension cut, which if applied, will lead to more inequality.

According to the same source, the state-members agreed with Greece in the need to strengthen the growth and appeared ‘positive’ to the non-implementation of the cuts in pensions. However, the final decision was not taken as some state members must have their parliaments’ approval. The issue in on the agenda of the extraordinary Eurogroup meeting that will be held on 19 November.