Tuesday, May 19, 2015

Unbelievable!: Samaras and Venizelos gave incorrect information to the IMF on the Greek pension issue

My main website is JohnKountouris.com


***I want to thanκ and give credit to Efsyn.gr whose article here I have translated from Greek into English for Greek Americans and all regular English speakers***

May 18, 2015 - 13:26

Συντάκτης: Τζώρτζης Ρούσσος
Editor: Georgie Roussos

UNBELIEVABLE!: Samaras and Venizelos gave erroneous information to the IMF on the Greek pension issue


Three false pension reports underpin the IMF's pressure to cut pensions as is clearly indicated within this revealing IMF text endorsed by IMF's Paul Thomsen himself.

As this report of the Editors Journal (EJ) reveals, officials from Greece gave the Troika false information concerning the Greek pensioners saying that the Greeks are paid too high leading lenders to insist on a "massacre" of Greek pensions.

Thus the hypothesis of our lenders takes on deceptive dimensions on the Greek insurance issue with the IMF this time indicating that it posses distorted evidence that Greece supposedly "scatters" money around from the state budget for the preservation of the social security system ...

No more no less, from this assumption of the IMF that the EJ reveals in their special report here it vividly shows how the numbers used by Greek memorandum governments demonstrates how the Greek government convinced the Troika technocrats that the only problem with their budgeting was the salaries and pensions of the Greeks and so, therefore, the Troika staff should redirect their decision making towards reducing them.

As this journal revealed today (May 18th 2015), the IMF representatives seek reductions in pensions (even from the minimum of 486 Euros!) relying on three false assumptions that could only have certainly been conveyed to them by certain Greek ministers who handled the negotiations for the Greek insurance issue.

Specifically, these false assumptions which the IMF is based on, which urgently seek the reduction of pensions, are:

-Very High pension costs. In terms of numbers, Greek memorandum-supporting negotiators have convinced our lenders that for covering the pension gap, Greece, through the state budget, cedes 9% of GDP, while Germany gives only 3% of GDP.

The truth is that in Greece approximately 40% of the uninsured work is done to cover deficits at 4.45% of GDP, when in Germany to cover the deficit of the pension system given 3%. This means that the difference between Germany (about 2% of the uninsured work) and Greece is around 1.45%.  Also, overall, Greece actually spends around 9% of GDP in pension spending, but 4.55% is institutionalized (Article 22 of Law. 2084/1992 and Article 4 of Law. 3029/2002) tripartite funding.   However, Germany also grants 6.9% of its state budget for the pension system.

-The IMF characterizes the Greek pension system as generous because the actual age and retirement period requirements are low, while pensioners receive a pension for longer period and the minimum pension is relatively high.

However, this claim is untrue because in Greece the retirement age for men is 63 years and for women 59 when in Germany for men it's 63 years old and for women 61 years old.

-The Monthly pensions in Greece are similar to Germany.

That's big lie since in Greece, with 35 years of work, at 67 years of age the pension corresponding to 1 and a ¼ of the contributions paid and not at 2 and ¾ as some falsely told Mr. Thomson.

With this false data the Greeks governments that supported the memorandums led the troika and institutions of Europe to slash already meager pensions in Greece.

It would good if Mr. Thomsen and the lenders told us what "Greek" ministers or their agents "supplied" them with this data and just what they were aiming for all those Greek politicians who put in the line of fire Greek employees and pensioners.

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