Browsing All posts tagged under »social security«

Spain Drains Fund Backing Pensions

January 21, 2013

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(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

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(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 […]