Europeans agree with IMF on new pension cuts

Europeans agree with IMF on new pension cuts

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It seems that all sides are involved in a hard bargain on when the representatives of institutions will visit Athens in order Greece to be able to complete the review of the Greek program in March.

President of European Central Bank Mario Draghi said that the IMF’s participation in the Greek program is “highly desirable”, given its considerable expertise in designing and monitoring financial assistance program. He stressed, though, that the ECB cannot speak on behalf of IMF concerning its possible future participation.

But, no one speaks clearly about when institutions will return in Athens, since everything depends on whether the Greek government or the IMF will make a step back regarding the pensions issue.

However, Eurogroup president Jeroen Dijsselbloem on Thursday spoke more directly regarding the institutions’ return confirming the information on new pension cuts.

Speaking at the Economic and Monetary Committee of the European Parliament, he said that the Greek government has submitted serious proposals for the social security system and pensions and that it has realized the urgency of the situation adding that there would be more pension cuts in order an agreement on social security could be reached, but refusing to elaborate on the issue.

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