Thursday, April 26, 2018

Greek pensioners protest new planned bailout cuts

planned bailout cuts
Thousands of Greek pensioners took to the streets of Athens on Wednesday to protest a new planned round of cuts to payouts scheduled for 2019 under bailout agreements with Greece's international lenders.

Although Greece is due to exit this summer the third bailout program since 2010, harsh austerity policies and bold reforms will continue under the agreements, a prospect which does not please the retirees who have seen their pensions shrinking to half in many cases the past eight years.

Based on laws voted by the parliament the past three years, pensioners will suffer a further 18-percent cut in auxiliary pensions from the new year.

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