Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
I wrote the second paragraph in the frame of mind of introducing the pension cuts for new workers (but with current ones remaining on the same package as they are now).

Re-reading the diary it looks as though they intend to remove the pension benefit from current workers.  As Linca says, this is equivalent to cutting pay/wages.

by In Wales (inwales aaat eurotrib.com) on Fri Oct 19th, 2007 at 03:45:17 AM EST
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