Agreement on pension cuts and € 3mil measures in the public sector

Maximos Mansion officially announced the agreement on four points between the prime minister and the political leaders.

Clearly there must be an agreement to cut supplementary pensions at a rate not yet known, but reports from ND as well speak of a fight to avoid the elimination of the 13th and 14th salaries.

The announcement of the presidential office is as follows:

"The Prime Minister and the leaders of the three political parties supporting the government met to make a joint decision on the content of the basic elements of an agreement with the Troika regarding the new economic program for Greece, which is a prerequisite for the new financial support of the country.

They agreed on basic issues which include:

- measures in 2012 to reduce public spending by 1.5% of the GDP
- ensuring the sustainability of supplementary pension funds

- addressing the lack of competitiveness through measures such as reducing wage and non-wage labour costs, in order to promote employment and economic activity
- recapitalization of banks with combined resources that ensure the promotion of state interests and their entrepreneurial autonomy
 
The prime minister and the political leaders will meet again tomorrow to complete the consultations on the content of the program.

In addition, the political council of PASOK will meet tonight, while it is characteristic that the Troika has not accepted Papandreou’s proposal to strengthen banks by issuing common shares, which would lead to denationalization.