Browsing All posts tagged under »social security«

Spain Drains Fund Backing Pensions

January 21, 2013


(PUBLISHED IN THE WALL STREET JOURNAL) Spain has been quietly tapping the country’s richest piggy bank, the Social Security Reserve Fund, as a buyer of last resort for Spanish government bonds, raising questions about the fund’s role as guarantor of future pension payouts. Now the scarcely noticed borrowing spree, carried out amid a prolonged economic […]

Czech president vetoes pension reform

October 3, 2012


(PUBLISHED IN ELECONOMISTA.ES) The reform, which allows workers to divert a portion of social security payments into private schemes, lacked political acceptance and was badly timed as it would initially worsen the deficit at a moment of economic turmoil in Europe, said Vaclav Klaus. Czech President Vaclav Klaus vetoed the government’s pension reforms on Monday, the […]