Alexis Tsipras who was overwhelmingly re-elected on Sunday is readying the country for the new aid plan Greece signed with the EUR, the ECB, and the IMF in July. In order to receive a new tranche of international financial aid more than fifteen far reaching reforms must be devised by the end of October.
Barely have the votes been counted and the Tsipras government is faced with making far reaching reforms to the pension system. The goal is to save the equivalent of 0.25% GDP in 2015 and 1% in 2016. All current provisions allowing for early retirement will be phased out by 2021 when the retirement age will be 67 (or 62 for a reduced pension amount). In October Greek MPs will have to vote for the zero deficit clause (tight correlation between pensions paid and contributions received), which shou
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