Page 772 - Pensions News Today

Austerity. they want their big pensions but they want the european union to pay for them. i wouldnt. i would say hey have a goods time down there i will see you. i am not paying you any more. we are not lending you anymore. bye-bye. you would do what? >> i would do the same and i think europe is going to do the same. they wont do it quite as bluntly but, you know, the greeks want to live off. >> everybody else. >> hard working northern europeans and you can do that for a while. do that through t...

U.s. stock futures are lower. euro falling against the dollar. the no vote puts greeces future further in doubt. it deepens the divide with greece and european creditors. europe wanted more reforms from greece in exchange for the bailout. i mean higher taxes and the government to pay people less. greeks voted they had enough of years of steep cuts. it is pushing an exit from the eurozone. greece needs more money for pensions and wages and reopen the banks that have been shut for a week. how will...

Now they have more than 5.5 billion euro due this month to creditors as well as pensions and salaries. thats reality. 3.5 -- let me remind you -- is the ecb. ecb also wants to get paid. all depends if the ecb is ready to throw more money in there. it is a vicious circle. one said the only certainty at the moment is uncertainty. i was talking as a result of coming in and one greek lady said it is the choice between drown in the ocean or getting bitten by a shark. both options are pretty bad. at l...

For people who rely on the government for wages and salaries? what is it that the greek people said we dont want this? >> reporter: good morning, christine. good morning, john. i think they are clear here. the whole week they have been saying no more austerity. very clear, they dont want more cuts pension cuts or tax increases. that is the concern that many people have been making. pensions have been cut dramatically in the last five years. what they are saying is no more. we cannot survive with...

Of a deal here? >> the germans -- it was the finance minister that insisted on a lot of austerity. which to a large extent the greeks have gone through. part of the reason you had that overwhelming vote yesterday in the referendum is the greeks really have had pensions cut, public sector jobs cut, unemployment has gone up to something like 25%, much higher amongst young greeks. and that austerity has brought the country to breaking point. now theyre saying listen weve had enough. the question to...

Pensions you cant tell us that our economy is going into the toilet. and now were seeing the ramifications of that. >> wow. bad finances like baltimore for those people in greece. they just dont want to say it. gerri willis, thank you very much. go to have -- good to have you in. >> in south carolina lawmakers debating whether to take down the confederate flag from the state house grounds. theres a special session of the state legislature going on right now amount survey of south carolina lawmak...

It is pushing it closer to having to exit the eurozone. greece needs more money to pay pensions and wages and reopen banks which have been shut for a week. how will european leaders react? senior officials are meeting ahead of a big summit tomorrow. thousands of greek people celebrating the vote. gleeful over the terms. they are waking up with more than one hangover this morning. they face a prospect of an economy in chaos. the possibility of extension of bank closures and tighter restrictions o...

Terms. a resounding no vote in the referendum referendum. the finance minister writing saying the european creditors wanted him gone. he says he is quitting his job to help the prime minister reach a new bailout deal. he says i shall wear the creditors loathing with pride. markets around the world are sinking to the bailout deal. u.s. stock futures are lower. this no vote puts greeces future further in question. it deepens the divide with greece and the rest of europe. the european countries who...

Quits. gets on his motorcycle and leaves. >> smiling with 20% unemployment unemployment. >> a potentially a world selloff. now the response to the bailout deal. european stocks sharply lower. the euro plunging against the dollar. this puts greeces future further in question deepening the divide. europe wanted more reforms from greece from the bailout. they had enough of austerity. that is pushing the country closer to bankruptcy and closer to the exit from the eurozone. never has it been a proba...

Leaders to try to join them and try to get the support behind the party when it comes to negotiates with europe. he needs greece to be united in the front. where does this take greece? it lies on the ecb. they are meeting today. they will decide whether they will increase the liquidity or not. already we know 60 euro limit, but will that be reduced to euro if ecb does not prop up the banks. >> did you say 50% of households in greece the only income is a check from the government? >> reporter: co...