One of the main issues in the negotiations between Greece and its creditors (the European Commission, the European Central Bank, and the IMF) is the size of Greek pensions. While Greek pensions have already been cut substantially, the creditors are insisting on further reductions.
To assess the appropriateness of this demand a bit of context might be helpful. This figure compares Greek pensions to those of an IMF senior economist. Source: IMF, NYT, and author's calculations.
One of the main issues in the negotiations between Greece and its creditors (the European Commission, the European Central Bank, and the IMF) is the size of Greek pensions. While Greek pensions have already been cut substantially, the creditors are insisting on further reductions.
To assess the appropriateness of this demand a bit of context might be helpful. This figure compares Greek pensions to those of an IMF senior economist. Source: IMF, NYT, and author's calculations.