GREECE - The conservative government has called for the amalgamation of 155 separate pension funds down to 20 in order to improve economies of scale and reduce waste, according to reports in Greek newspaper Kathimerini.
Greece’s retirement system threatens the financial stability of the country, as it consumes an ever-increasing amount of tax revenue in order to service the payments made to its increasingly ageing population....
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.