A Greek court made a decision that the pension cuts agreed by the country’s government and its foreign lenders violated the European Convention of Human Rights, local media reported.
By Sputnik News
MOSCOW (Sputnik) — On May 2, Athens and its international creditors have reached an agreement on a set of bailout-mandated reforms required to provide Greece with yet another tranche of financial aid. The country’s parliament is expected to vote on the package of reforms, including the pension-related issues later in May.
The Kathimerini newspaper reported Tuesday that the cuts to both supplementary and main pensions agreed by Athens and the creditors violated the convention.
In 2010, the debt crisis hit the Greece economy. Since then a number of international lenders, including the EU institutions and the International Monetary Fund, agreed to provide Athens with several bailout packages in exchange for large-scale economic reforms.
Under the bailout programs, Greece’s international creditors have been conducting a review of the reforms’ implementation. The second review of the third bailout could not be finalized for several months due to stumbling blocks, including in the spheres of energy and social insurance. Without the finalization of the review, Athens cannot receive the new tranches necessary to service its debts.
This article (Greek Court Finds New Pension Cuts Violating European Human Rights Convention) was originally published on Sputnik News and syndicated by The Event Chronicle.