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Crumbling Greek pension system threatens big fiscal gap, budget derailment
Social security funds (SSFs) are the weakest link among the main general government (gg) entities, showing a significant deterioration in their fiscal performance in the course of 2015 and creating a looming challenge for the coalition.
Based on the latest gg bulletin for July, SSFs posted a cash primary deficit of 458 million euros in the 7-month period from a surplus of 359 million in the corresponding period last year, which means there was a fiscal deterioration by 817 million year...
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