News24

Greek PM gives up salary

2012-03-01 14:46

Athens - Prime Minister Lucas Papademos has followed in the path of President Carolos Papoulias by giving up his salary to help ease Greece's debt burden, a government source said on Thursday.

"It was personal decision, the PM did not feel that it had to be announced," the official, who declined to be identified, told AFP.

Ta Nea daily said Papademos, a former vice-president of the European Central Bank, made the revelation on Wednesday during a visit to Brussels where finance ministers are to discuss a new bailout for Athens worth $175bn.

"Not even his associates knew this," the daily said.

Papademos' office was unable to give details on the level of his salary.

On Wednesday, the finance ministry released a list of its best-paid public servants, including the prime minister, which it said are entitled to salaries of more than $6 700 a month.

Deputy finance minister Filippos Sachinidis released the information in response to a parliamentary question, the semi-state Athens News Agency said.

The list of pre-tax monthly salaries of over €5 000 includes President Papoulias, Papademos, cabinet ministers, junior ministers and parliament lawmakers.

The heads of Greece's ailing social insurance funds, troubled hospital managers, mayors of towns with over 100 000 residents and senior academics, judges and diplomats are also entitled to such salaries, the deputy finance minister said.

Precise wages per position were not given.

Papoulias recently announced he was giving up an annual salary of over  €280 000, and civil servants have already sustained pay cuts in the last two years under Greece's unprecedented fiscal overhaul, enacted under EU-IMF supervision to address the country's worst debt crisis in decades.

The parliament in November also said that lawmaker salaries would be axed by over  €46 000 for 2012, a cut of around 40%.

The finance ministry said the figures given on Wednesday were adjusted for salary cuts.

Greece's debt has exploded to over  €350bn, and it is slated to continue drawing loans from the eurozone on top of a 110-billion-euro EU-IMF bailout set up for Athens' benefit in 2010.

Comments
  • Craig - 2012-03-01 14:57

    Default, tell the WB to F off and start your country again without a fractional banking system...

      paul.maarman - 2012-03-01 15:04

      have to agree, greeks are being screwed royally...-screw the euro for the sake of your country..!!

      E=MC2 - 2012-03-01 16:18

      Greece got themselves into this situation too. Dont forget that.

  • Janice - 2012-03-01 15:45

    He should come and give our South African Government a lesson or two!!!

      Thando - 2012-03-01 16:06

      Our finances are in much better shape than Greece. Perhaps Mr Gordon could teach them a thing or 2

  • wesleywt - 2012-03-01 16:06

    He should actually pay his taxes. That will help more.

  • reine.marais - 2012-03-01 17:14

    Wow. This is demonstration of true leadership in the face of crisis, even though that same leadership may have scored bit time during the years of plenty. This sets a precedent for all governments, including our own here in South Africa, as well as to all those companies whose Board of Directors sail fully paid through retrenchments and bankruptcies, whilst engineering the breakdown of the lives of others.

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