Greece

GREECE - The cost of public pensions in Greece is estimated to rise by more than 20% of gross domestic product by 2050, according to the latest report by the Organisation for Economic Co-operation and Development (OECD).

GREECE - The European Court of Justice (ECJ) has ordered an end to earlier retirement for Greek women that work in the public sector and found the Greek system did not offer sufficient support for the personal advancement of women in the workplace.

GREECE - Journalists have planned strike action next week because of Conservative plans to reform the country's pension system.

GREECE - The conservative government has called for the amalgamation of 155 separate pension funds down to 20 in order to improve economies of scale and reduce waste, according to reports in Greek newspaper Kathimerini.

GREECE - JPMorgan and North Asset Management have reached an agreement with all parties affected by a structured bond debacle involving four Greek government pension funds.

GREECE - In the latest twist in the JP Morgan bond debacle, the firm told the parliamentary committee investigating the overpriced bonds scam that it was misled by a former employee.

GREECE - JPMorgan has issued pension fund investors with a 5pm deadline today to consider a proposal to repurchase €280m of structured bonds.

GREECE - JPMorgan and North Asset Management have said they would be prepared to buy back all €280m of the structured bonds which were overpriced by €5m and sold to the Greek government pension scheme.

GREECE - Flights were grounded and hospitals run on skeleton staff yesterday as Greek workers took strike action in the latest twist in the bond overpricing scandal.

GREECE - Labour Minister Savvas Tsitouridis was asked to tender his resignation on Saturday and become the latest casualty in the Greek pension fund bond scandal.