Bloomberg News

Greek July Pension Payments Will Be Made as Normal, ANA Says

June 13, 2012

Greek pensions for July will be paid as normal, Athens News Agency reported, citing comments by caretaker Labor and Social Security Minister Antonis Roupakiotis.

The minister said he could not give any assurances over August pensions because that lies beyond the scope of the caretaker administration appointed to steer Greece to repeat elections on June 17 after an inconclusive vote last month, according to the state-run newswire.

Greece needs to find another 260 million euros ($326 million) to cover a deficit in the unemployment benefit fund, and 1.4 billion euros for pensions, ANA cited Roupakiotis as saying. Each percentage point increase in unemployment costs social security funds 450 million euros, he said, according to ANA.

To contact the reporter on this story: Marcus Bensasson in Athens at mbensasson@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net


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