ECONOMY

Clear ‘no’ to an increase in social security contributions

clear-no-to-an-increase-in-social-security-contributions

Greece’s creditors appear vehemently opposed to the government’s plan for an increase in social security contributions by employers, with the head of the European Commission’s mission to Athens, Declan Costello, stating on Monday that it would not help to create jobs.

Addressing a conference by the American-Hellenic Chamber of Commerce in Athens, Costello added that the creditors are anticipating the Labor Ministry’s proposals, likely in December, so that the negotiations can begin.

While the Commission’s representative said that “we have no red lines in discussions” and that “we will examine the Greek proposal in its entirety,” he made sure to contain any government expectations, saying that “obviously the increase in employers’ contributions will not help in the creation of new jobs. Yet we will view the proposal in combination with the income taxation reform.”