Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Did "maintain their standard of living" include not "cut their social security system"?

From what I gather below and from linked sources, Greece has a very generous pension system for state employees and a very rudimentary one for everyone else. The differences with the USA are more of scale and degree than of kind. The primo package of retirement and medical benefits only comes from the federal, state and local governments and people can qualify at a relatively young age, leave government service, work ten years in the private sector, and qualify for both retirement systems. I know people who have done this.

I strongly suspect there will be pressure to revise downward many of these benefits. Probably the same in Greece. But it will be very difficult to do so in both countries. Does Greece allow pensioners to receive benefits while living abroad? If this proceeds along the path of squeezing everyone but the rich and the pensioners things could get ugly in Greece for those who have benefited most. We are more docile in the USA.

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Feb 12th, 2010 at 02:34:23 PM EST
[ Parent ]

Others have rated this comment as follows:

JakeS 4


Occasional Series