Gov’t sources: BoG chief promotes views that lead to social security system deregulation

The government gave a harsh response to the statements of Bank of Greece (BoG) governor Yannis Stournaras in a recent conference.

The Bank of Greece governor “promotes views that are more extreme than the views of the defenders of the strictest American liberalism,” government sources said and added: “These views lead to the total deregulation (of the social security system).”

Stournaras stated in Parliament that despite the reforms required by the previous memoranda, the social security system remains costly and generous and estimated that there may be need for further pension cuts. He also said that “a sufficient and at the same time sustainable social security system is not economically feasible under present conditions in Greece.”