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Greece and its lenders – including inspectors from the International Monetary Fund and the European Central Bank – made progress this week on the country’s pension reforms, according to a report from Reuters. The country’s next round of bailout money is contingent on these reforms. Greece has resisted steep pension cuts, and has struggled to … Continue reading Greece, Bailout Inspectors Make Progress on Pension Reforms: Report

Officials representing the IMF and other creditors arrived in Greece on Wednesday to inspect the progress of the country’s pension reforms, which are a key condition the international bailout agreed to last year. Greece offered its own pension reform plan in early 2016; but it wasn’t steep enough for the IMF. Additionally, creditors objected to … Continue reading Greece’s Pension Reforms Reviewed by Bailout Inspectors

The International Monetary Fund on Thursday published a blog post, penned by the official handling Greece’s bailout, positing that the country needs to implement steeper pension reforms for its finances to be sustainable in the long-term. Greece has already proposed some significant reforms; that package will soon be altered further after objections by creditors. The … Continue reading IMF: Steeper Pension Reforms Needed in Greece

Greek workers launched large protests last month against a pension reform package that would cut retirement benefits and require higher contributions from both employees and employers. But it was ultimately creditors who may have convinced the Greek government to tweak parts of the planned overhaul – although the changes may lead to steeper benefit cuts … Continue reading Greece May Alter Pension Reforms After Creditor Objections

A week after a Greek official said further pension cuts were a “non-starter” in negotiations with creditors, it appears the country may have to cross that “red line” if it wants to move forward with its bailout. Greece released a reform plan this month that delivers savings of about 1 percent of the country’s GDP. … Continue reading EU Official: Greece Must Improve Pension Reforms to Move Ahead With Bailout

A Greek official made it clear last week that further pension cuts would be a non-starter in negotiations with creditors. But the country’s finance minister this week said he is willing to discuss pension reforms with the IMF – if it means their bailout review will be quick. From Reuters: Greece’s international lenders – the … Continue reading Greece Willing to Discuss Pension Reforms With IMF; Unions Plan Strike

Greece this week unveiled a pension reform plan containing sweeping changes, including benefit cuts and higher contributions from both employees and employers. A reform initiative that delivers savings equal to 1 percent of the country’s GDP is required as part of Greece’s $93 billion bailout. Details of the plan, from Reuters: The proposed overhaul of … Continue reading Greece Offers Pension Overhaul Plan

Greece’s economic crisis is affecting many parties, both inside and outside the Euro zone. But the country’s standoff is having a particularly interesting effect on the state of Kansas and its plan to issue $1 billion in pension bonds. Kansas can’t issue the bonds if the interest rate exceeds 5 percent. That’s where Greece comes … Continue reading How Greece’s Crisis Is Affecting Kansas’ Pension Bond Plan

Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Lefteris Papadimas and Angeliki Kountantou of Reuters report, Greece’s pension paradox: Many elderly are broke, despite government’s costly spending on system: The plight of 79-year-old Athenian Zina Razi and thousands like her strikes at the heart … Continue reading Greece’s Pension Paradox?