GREECE - The cost of public pensions in Greece is estimated to rise by more than 20% of gross domestic product by 2050, according to the latest report by the Organisation for Economic Co-operation and Development (OECD).
n the Economic Survey of Greece 2009: Enhancing fiscal viability, the OECD said there are a number of options for reform, including the use of notional accounts, similar to what is used in Italy and Sweden....
EUROPE - RBS expects Greece will experience a hard default this December in a move it says will cause "violent contagion" in global markets.
GREECE - Standard & Poor's has slashed Greece's long term credit rating from B to CCC, amid fears private sector debt proposals will amount to a default.
GREECE - The Greek parliament has narrowly voted to approve a drastic austerity package despite facing widespread opposition.
GREECE - Greece plans to sell €1.25bn ($1.78bn) of 13-week Treasury bills today as growing speculation the country will need to restructure its debt pushed bond yields to euro-era records.
GREECE - Greek telecom operator Hellenic Telecommunications Organisation (OTE) has said it will have to book a €129.8m ($179m) pensions cost charge to its 2010 accounts following an actuarial study by the Greek government.