Athens News Agency: News in English, 05-06-29
CONTENTS
[01] Capital market bill ratified in principle
[01] Capital market bill ratified in principle
The capital market bill, which also includes arrangements for bank
employees' pensions and voluntary retirement for the employees of the
Hellenic Telecommunications Organisation (OTE), was ratified in
principle on Wednesday.
In reference to pension reform in the banking sector, Labour and Social
Protection Minister Panos Panagiotopoulos said that it was necessary
due to the rapid changes under way in the international banking system,
such as growing competition and the introduction of accounting
standards.
The reform was also necessary since the government wanted to safeguard
employees' pension rights, the smooth pay-out of benefits and jobs in
the state-run Agrotiki and Emporiki banks, among other reasons, he
said.
Regarding OTE's voluntary retirement scheme, Panagiotopoulos said that
it will contribute to the organisation's restructuring and
modernisation.
The debate in parliament will continue on Wednesday evening, during
which time it will focus on the capital market segment of the bill.
On Thursday, pension reform in the banking sector and OTE's voluntary
retirement scheme will be voted on in essence.
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