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Cuts to pension benefits aren’t sitting well with Greek retirees, who took to the streets of Athens this week to declare their anger and opposition.
The cuts are being driven by austerity measures “ordered by the indebted country’s creditors,” reports Reuters.
“In weak autumn sun and a city teeming with tourists, pensioners took to the streets angered by more than a dozen rounds of cuts since Greece toppled deep into crisis in 2010. More cuts will be on the way in 2019, under further reform to pension regulations,” reports the news agency.|
Some of the blame is pointed at the EU and the IMF, but “protests were focused on the Leftist Syriza party which swept to power in 2015 promising to do away with austerity, then had to accept further cuts in return for a third multi-billion euro financial lifeline.”
More: Creditors take aim at pension system.

ARIA provides a forum for an informed discussion on retirement income adequacy, and other related issues, including pension and retirement coverage, and defined benefit pension plans – ARIA pensions blog, 12 Dunlop Street, Barrie, ON, L4N 1V6 – sitemanager@ariapensions.ca

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