MacroPolis

Referendum call stretches state liquidity, pensioners first to bear the brunt

The imposition of capital controls accompanied by a bank holiday for 6 working days starting from June 29 until July 6 had a series of negative repercussions on the life of Greek citizens and the economy.

Court orders 2012 pension cuts to be reversed, costing up to 1.5 bln

The Council of State (CoS), Greece's highest administrative court, has published a decision that orders the government to restore basic and supplementary pensions to their 2012 levels.

Court ruling on pension cuts could create new problem in talks, fiscal plans

As the government struggles to find common ground with lenders over this year’s fiscal targets, a legal issue concerning pension cuts threatens to derail spending plans.

Greek pensions: The thorniest issue in talks between Athens and lenders

As Greece and its lenders make a new push to conclude negotiations that could secure more bailout funding, it is certain that the country’s pension system will prove one of biggest obstacles to a deal.

Better contribution collection for Greek pension funds but 5.1-bln shortfall looms

Greek pension funds have lost 32 billion euros since the beginning of the crisis and are facing a funding gap of 5.1 billion euros but the collection of social security contributions is improving, according to new figures.

One in two Greek households rely on pensions to make ends meet

The main, and in many cases only, source of income for almost half of Greek households are pensions, whereas they rely on salaries most in just one in three cases, according to a new survey.

Greece trying to lay 'phantom' pensions to rest

By: Nick Malkoutzis

One of the main problems the Greek state faced at the start of the crisis was putting right the obvious public administration inefficiencies that had become an undue burden on the country’s finances while also being a source of gross unfairness. An example of this was Greece’s pension system and the poor way in which it was managed.