Troika wants 30% -more- slashes to Greece’s pensions
Greece’s creditors are eyeing further slashes to already butchered pensions that have been scissored during previous bailout deals.
IMF Chief Delia Velculescu – obsessed with further cuts to Greece’s low pensions – spearheads the plan for social security reforms that include pension cuts of as much as 30%.
It doesn’t stop here with sources pointing to further 10% slashes if the recession continues.
Wages, too, will be brought to the fiscal sacrificial altar with new recruits in the private sector to see their basic wage drop by 5-10% from 586 euros.
Greek negotiators already have their backs cornered to a wall as far as pension slashes are concerned.
The zero clause in social security reform is a pre-requisite to the new deal with creditors that Prime Minister Alexis Tsipras had signed at the Euro Summit.