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Drawing The Right Lessons From The Greek Pension Crisis

Watt, A., (2015), “Drawing The Right Lessons From The Greek Pension Crisis”Social Europe, 8 June.

The article refers to groups of workers that, at least until the crisis, enjoyed very high replacement rates on entering retirement, and could do so at comparatively early age. As is typical of benefit systems in southern European countries more generally, the Greek pension system has always been highly discriminatory between different categories of workers. This means, among other things, that the very high replacement rates for some workers, which (rightly) arouse the ire of politicians and voters in creditor countries, are matched by low rates, indeed no coverage at all, for other categories of workers.

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