Cuts Pension

'In the framework of its [bailout] programme and of its completion, Greece committed itself to continue on the reform path, which was set by the ESM [European Stability Mechanism] programme,' Angela Merkel's press office told the daily Ta Nea.

In order to secure Berlin’s support on the pension issue, Athens must commit itself to not canceling any other reforms agreed to with creditors in the future.

The centre-left Movement for Change leader said that the condition for her party’s participation in a grand coalition is, among others, the rescinding of the law passed by former labour minister Yorgos Katrougalos, which is the basis for legislated pension cuts

In a boost for the government, Eurogroup chief Mario Centeno said today that the pension cuts are not a structural reform [as the IMF maintains], but rather a revenue-raising measure.