Additional measures of 1.2 bil euros for pensioners

The government and the Troika are nearing a deal. Today and tomorrow Yannis Stournaras and the envoys of our lenders will try to cover another part of the gap. Information says that it has reached under 1 billion euros mainly in measures for 2014.

 

On the initiative of the auditors yesterday, the planned meeting with Stournaras was suddenly postponed only one hour before its start, prolonging the anxiety about decisions that need to be made inside and outside Greece on the fate of the Greek debt.

 

The essence is that the Troika achieved what it wanted, which is for the measures to be frontloaded. They already locked 9 billion euros for 2013 and the remaining 4.5 billion for 2014.

 

The Troika and Stournaras do not seem to agree on the 89 prerequisite actions, while the money found to bridge the gap comes from cuts in wages, pensions and benefits.

 

An additional 1.2 billion euros will be required from pensioners to close the measures of 9 billion euros (instead of 7.8 billion as estimated in the draft budget) for 2013, and will come through measures such as:

 

-       elimination of OGA benefits: 550-600 milion euros

-       further decrease in pensions of over 1,000 euros: 200 mil. euros

-       cuts in tax exemption for parents etc.: 400-500 mil. euros

-       cuts in bonuses and overtime of public employees: 100-200 mil. euros.