Pensions audit draws money, finds major fraud

A review of all the pensions being issued by the Greek state which started two years ago in a bid to weed out false claims has resulted in savings of 42.2 million euros, Alternate Finance Minister Christos Staikouras said on Tuesday while presenting the findings of a General Accounting Office census which highlighted hundreds of cases of people claiming the pensions of their dead relatives.

Council: Immediate 15 percent cuts or new reductions soon

BELGRADE - Unless public sector salaries and pensions are immediately reduced by 15 percent linearly, a new reduction will have to be implemented in the next year already, the Fiscal Council warned and added that any lower cut would compel the government to make up for the funds through VAT increase.

Employers want salaries cut by 25 percent

Employers want salaries cut by 25 percent

BELGRADE -- The Union of Employers of Serbia believes that "the fund of gross salaries in the public sector must be reduced by 25 percent."

Secretary General of the Union Dušan Korunoski has been quoted as saying that "it is better to do it now and avoid bankruptcy, than to afterwards cut salaries by 40 percent."