pension Archives

Argentina: Scores injured as violent protests breakout against pension reform plans

December 19, 2017 By administrator

Rallies outside Argentina’s Congress have turned violent, with as many as 150 people reportedly injured. Opponents of the proposed pension reform bill say it would reduce payouts for 17 million Argentinians.

Protests on the streets of Argentina’s capital turned ugly on Monday, as masked demonstrators hurled firecrackers, bottles and gasoline bombs at police officers guarding the Congress building.

Security forces in Buenos Aires responded with water canons and fired rubber bullets at demonstrators. According to reports, as many as 150 people were injured in the ensuing clashes, including many bystanders and peaceful protesters. Forty-eight people were arrested.

The rallies came in response to a pension reform plan being debated in Congress. The proposed legislation has angered many retirees and prompted trade union leaders to call a general strike.

Argentina’s largest union, CGT, began a 24-hour general strike at 12:00 p.m. local time (1500 GMT) on Monday in protest of the bill. Hundreds of airline flights were grounded and large areas of Buenos Aires ground to a halt.

“We have no one to defend us,” said 70-year-old retiree Cristina Sanmero, who found herself caught in the violence. “At my age, I have to come here and defend my contributions of 30 years. We’re governed by inept people who think that it’s easier to take away from the old.”

Demonstrators in several Buenos Aires neighborhoods also took to the streets banging pots and pans. The gesture holds a deep symbolic meaning for Argentinians who marched during the 2002 economic crisis with pots and pans, before eventually forcing then-President Fernando de la Rua to resign.

Mauricio Macri’s pension package

The proposed pension plan is part of Argentinian President Mauricio Macri’s push to reduce the government’s deficit, which currently stands at 3.2 percent of gross domestic product (GDP).

Proposed legislation would change the way pension increases are calculated, with payments adjusted every quarter based on inflation, rather than twice-yearly based on wage hikes and tax revenue.

Greece: Thousands protest pension reforms in Greek capital

January 21, 2016 By administrator

Thousands of people have poured onto the streets of the Greek Athens to voice their outrage at the government’s planned pension reforms demanded by international lenders under the debt-ridden country’s third bailout package.

White-collar professionals, including doctors, lawyers and engineers took part in Thursday’s event outside the Greek parliament.

Waving their neckties and banging drums, the demonstrators chanted slogans such as “Quit, Quit,” “Take back this law, I can’t pay you, Alexis,” in reference to Greek Prime Minister Alexis Tsipras.

“No to the law that dumps us in the street,” read one of the banners held during the 6,000-strong protest.

Greece’s leftist government recently drafted pension reforms, which will increase social security contributions and recalibrate future pensions.

“According to this proposed law, 84 percent of our earnings will go to taxes and other contributions (to the state),” said an engineer who introduced himself as Haris.

Dinos Diamantis, another engineer, also criticized the reforms, accusing the Greek officials of forcing people out of their profession.

“With this law … all engineers and self-employed professionals are closing their offices and they are being forced to leave Greece, just like the 200,000 scientists and professionals that have already left,” said Diamantis.

Engineers wearing their protective helmets shout slogans during a protest against the government’s planned pension reforms Athens, Greece, January 21, 2016. ©AFP

Lawyer Panayiota Bourletidou, described the legislation as both punishing and illogical, warning that it will take away about 80 percent of a self-employed professional’s income if combined with tax thresholds.

In July last year, Greece signed a deal with its creditors – the European Commission, the European Central Bank (ECB), and the International Monetary Fund (IMF) – to receive an EUR 86-billion (USD 96-billion) bailout in exchange for fresh austerity reforms in the cash-strapped Mediterranean state.

Tsipras agreed to the demands for austerity measures by lenders in exchange for the bailout deal. The decision triggered outrage from Greeks, who argue that the premier came to power on an anti-austerity platform.

Greece has already received two bailouts in 2010 and 2012, worth a total of EUR 240 billion (USD 272 billion) from its creditors following the economic crisis in the Southeast European country back in 2009.

President talks Customs Union, pension reforms, Baku provocations

August 25, 2014 By administrator

Allegations that Armenia has been under pressure to join the Customs Union are untrue, President Serzh Sargsyan said, according to ARKA.

“It is an important period for development of our country. A lot will change in the country. I have no problems – either with those criticizing me or the ones supporting the idea of accession. Time will show who was right,” the President said at a meeting with young reporters at Baze-2014 youth gathering in Tsakhkadzor on Sunday, August 24.

Sargsyan agreed that, to some extent, not all CU member states may be happy about Armenia’s accession.

“We are a small country, with a number of problems, and, naturally, our accession may create problems for the member states as well,” Sargsyan said. “Yet, had they been adamantly opposed to Armenia’s accession, they would have vetoed it.”

Sargsyan also noted that he will sign the constitutional reform concept this October, with transparent discussions held on the issue.

“About a month ago we came to a conclusion that the constitutional reform commission needed time to expand the scope of discussions and, if I am not mistaken, the outcome was to be finalized in October,” Sargsyan said.

The President further dismissed suggestions of soaring shadow economy in Armenia, noting that a doubled budget income in recent years became possible only through taxes paid, with the budget having no other means for replenishment.

The Armenian leader also voiced support for introduction of mandatory funded pensions, ruling out revision of the issue.

Commenting on recent Azeri-caused escalations at borders with Armenia and Karabakh, the President noted that Baku’s moves aimed to suggest that the war is not over and current status quo is unacceptable.

Sargsyan believes that Azeri provocations are initiated by the country’s leadership, without President Aliyev concealing it. “Additional goals Baku pursued lied in intimidating the Armenian side, justifying major expenditures in the military sector and showcasing their weaponry,” he said.

The President noted, in conclusion, that negotiations to achieve a peaceful settlement continue despite lack of progress.