Gradual or partial pension cuts on the cards

Athens and its creditors are seeking a compromise solution over the issue of pension cuts, a well-informed European source has revealed to Kathimerini, while eurozone officials say the debate on the cuts remains open following Friday's Euro Working Group.

The solution being discussed provides for a combination of measures including the partial or gradual reduction of pensions issued before 2016 in exchange for the gradual reduction of the tax-free ceiling from 2019, and not from 2020 as planned.

The eurozone has made it clear that there is not enough fiscal space for the pension cuts, the offsetting measures announced - such as the reduction of the Single Property Tax (ENFIA) and social security contributions - and a rent subsidy.

At the same time, changes the government is planning on the labor front - collective contracts, a minimum wage - combined with new...