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Pension reductions to be revoked on permanent basis, eurozone official tells DW

Pension reductions to be revoked on permanent basis, eurozone official tells DW

Monday’s Eurogroup is expected to approve the Greek fiscal budget for 2019, according to a high-level eurozone official quoted by Deutsche Welle (DW) on Friday.

The budget does not include a cut in pensions scheduled to kick in on January 1, 2019, and uses part of the surplus of this year’s expected primary budget to support socially vulnerable groups.

The pension reductions will be revoked permanently, DW quoted the official as saying.

DW said that the budgets for which the European Commission has not expressed any reservations – which include Greece – will be approved directly at the Eurogroup of December 3.

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