European Commissioner Pierre Moscovici welcomes decision not to cut pensions

File Photo: European Commissioner for Economic and Financial Affairs, Pierre Moscovici gives a press conference on the Autumn 2018 Economic Forecast at the European Commission in Brussels, Belgium. EPA, STEPHANIE LECOCQ

European Commissioner for Economic and Financial Affairs Pierre Moscovici on Wednesday welcomed the Greek parliament’s vote for the annulment of pension cuts scheduled to take effect in 2019.

“The Greek Parliament has voted not to go ahead with the prelegislated pension cuts, which would reduce the income of about 1.4 million pensioners by an average of 14 pct. This is good news for the Greek people and a strong message against austerity,” Moscovici said, reiterating that “the Commission never considered that these additional cuts were needed, either to ensure the long-term sustainability of the pension system or to achieve next year’s primary surplus target.”

“I am pleased for pensioners, their families, and the Greek people as a whole that this drastic measure will not be applied. The Greek people have already suffered much over the past eight years. It is good news that this threat to the incomes of many hundreds of thousands of struggling households has now been lifted,” the French commissioner said.

Source: ANA MPA

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