Greek Gov't, European Commission Working on Pension Agreement for 2019 Budget

Greek Gov't, European Commission Working on Pension Agreement for 2019 Budget

The European Commission is nearing an agreement with the Greek government to approve Greece's draft budget for 2019, European sources said on Monday. The draft budget review is a process all eurozone countries have to submit to. In Greece's case, negotiations are focused on the government's alternatives to cutting back pensions, a measure that otherwise kicks in on January 1. According to the sources, negotiations also include other positive measures the government wants to implement and the fiscal ability it has to do so.  Both sides hope to present a joint position before Thursday's EuroWorking Group, which will prepare the November 19 Eurogroup. The Commission is expected to present its formal opinion on all draft budgets for EU member-states on November 21.

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