Greece Plans EU5 Billion in 2013-2014 Pension Cuts, Ta Nea Says

Greece plans 5 billion euros ($6 billion) from cut to pensions, social spending and lump-sum retirement payments, part of the government’s 11.5 billion-euro package for the next two years, Ta Nea said, without citing anyone.

A cap of about 2,000 euros a month may also be imposed on state pensions, the Athens-based newspaper reported. The government raised the figure for these cuts to 5 billion euros from 4 billion euros as it struggles to find measures that total 11.5 billion euros for 2013 and 2014, the newspaper said.