Union chief calls on firms for pension aid

A few days after he urged talks about reforming Greece’s creaking social security system, Christos Polyzogopoulos, the head of the country’s largest umbrella union, called on business owners to dig into their pockets and put a share of their profits in a pension «piggy bank.» «We have to find money to support pensions and build a piggy bank – a special social capital reserve for the future,» said Polyzogopoulos, the president of the General Confederation of Greek Labor (GSEE). He proposed that businesses should set aside 0.1 percent of their profits to help avert a pensions crisis in years to come. On Tuesday, Polyzogopoulos warned that the Greek social security system would be in serious trouble unless drastic action was taken. The following day, Economy and Finance Minister Giorgos Alogoskoufis invited opposition parties to begin a dialogue on pressing economic issues.

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