Greeks strike as new reforms loom on tax and pensions

Greeks went on a 48-hour nationwide strike yesterday to protest against tax and pension reforms, as prime minister Alexis Tsipras appealed to fractious politicians to approve the overhaul as part of a multibillion-euro bailout.

Lowering its annual pension bill, one of the most expensive in the euro zone, is a condition for Greece to qualify for a fresh instalment of the latest international bailout, worth up to €86 billion, agreed a year ago with its EU partners.

Mr Tsipras, who is clinging to a slim majority of three seats in the 300- member assembly, appealed to members of his Syriza party to approve the package. Whether Greece signed up to a bailout or not, he said, reform of pensions was still needed.

“It was a necessity born from the need to make it viable. Without this intervention, the pensions system would collapse,” Mr Tsipras said.

In the meantime, the head of the International Monetary Fund, Christine Lagarde, urged euro zone finance ministers to start talks on Greek debt relief, together with discussions on reforms, according to a letter published by the Financial Times.

Tsipras has called for debt relief to help Greece as it introduces the reforms. – Reuters