Page 773 - Pensions News Today

Greece they say only 50% of pensioners here rely on pensions as their only source of income. so they say, look the cuts to now, austerity to now hasnt worked so why back further proposals that will make our lives so much tougher? >> some are saying that things have been so bad in the past five years why would they want more of the same but then whats the flip side as we saw leading up to this weekend that banks were closed atms were running out of money, there were food shortage shortages, medic...

Greeces prime minister speaking last hour calling the no vote a brave choice saying it proved that democracy cannot be blackmailed. greeces opposition leader, though resigning today saying in a statement, it is time for the government to make good on its promises. what does this mean for greece and the eurozone. senior economic analyst joining me now. weve seen the banks closing for a week now and weve got the country overwhelmingly saying no europe we dont want your bailout of our country becau...

Do pension reform to do teacher tenure reform and veto income tax inreeses and sometimes thats not popular. so well go up and down and it will cycle back up again before were through this process. >> you mention pensions. its been one of the key things that you have been working on. you had a big win from the state supreme court on that issue. theres still a long way to go. how do you convince people you can get the big things done? >> we have already. when you think about property taxes at 2%. ...

Thus far has been handled in the last five years. help us better understand what that means for the average greek there. >> reporter: what they would vote on and what the referendum question is do you accept the proposals that have been asking for. thats calling for more cuts in pensions more tax rises. majority of people interpreted that as more austerity or more of the same or really changing the way the country is run. europe on the other hand saying this referendum saying its not about going...

So the real question is where is the momentum and that was the significance of prime minister tsipras talking tonight. he had to do one big thing -- obviously, rally his faithful here but he had to show to the greek people that they could vote no and not be afraid. what theyve seen this week are important a portend of what the yes group say will be the future bankruptcies pensions not paid hospitals closings whatever it might be. the worst-case scenario. and what tsipras had to say tonight was, ...

Nobel prize winning economists are anti-ositarians. i would tend to agree in this instance because greece has few options without getting additional funds and debt relief. if they dont forgive some of the $271 billion that greece owes and just put on more restrictions on what they can do in terms of having to cut pensions, having to raise taxes with the numbers we already see they will get worse. one would assume that younger people in greece would look for somewhere else to live. there are no j...

Pension, increasing the -- and given the fact that people here pensions most importantly have seen their pensions cut by more than half. the greek government of alexi tsipras has taken a strong stance. now hes calling for vote no to any proposal thats been put on the table by europe. he says if we vote no my negotiating tactic my hand will be stronger when i come to europe and say, look people - here clearly dont want more austerity austerity, give us a break. >> complicated decisions to make. w...

Some negotiating power from a no vote. but what you hear from everybody else is, look, theyre having a tantrum. these are people who dont collect their own taxes. so how do you make a deal with people like that? because they wont be able to enforce the austerity measures. they refuse to cut back on the size of government, much less the pensions and benefits that you referred to earlier. >> the prime minister, charles, apparently does not realize that this is already having a dramatic effects her...

Many people. one gentleman said he didnt have enough money to feed his family fredricka. 50% of greek families here depending on pensions now for the only source of income. that just helps to put in perspective. one man i spoke to even had to sell his wedding ring after 40-plus years of working because he just had no more money. >> issa help break down what is it at issue when they go to vote? is it an issue of whether there would be government spending cuts? higher taxes? what is it? europe is ...

Heartbreaking. i spoke to one lady this week who -- pensioner who tried to take money out of an atm, she tried five times to take 60 euros out. she couldnt do it. when i said how are you going to vote. she said im not registered here im registered in an island. if i cant even get money i wont be able to travel to vote. i spoke to a pensioner who has been working as a carpenter restoring antique furniture for 40 plus years. he sold his wedding ring because he didnt have money. he said he couldnt ...