Reuters: “Greece cut pensions by 30% between 2009 and 2013”
According to an article regarding the pension crisis to hit Southern Europe that was published on Reuters, Greece slashed pensions by…
According to an article regarding the pension crisis to hit Southern Europe that was published by Reuters, Greece has slashed pensions by 30% since the introduction of the bailouts.
The authors pointed out how Greece was the only one of the cash-strapped countries to carry out drastic reforms in its insurance and pension systems.
The article explains how in Southern European countries such as Spain, Italy and Greece, the older generations are often expected to help out the younger generations financially, however the financial crisis has disrupted this practice.