The reform is a key condition required by the EU for Spain to get access to post-pandemic recovery funds. Read more at straitstimes.com.
MADRID - Spain’s Socialists and their junior coalition partners Unidas Podemos have struck a deal on changes to the pension system that will put most of the cost on its highest earners, Reuters has learnt from sources in the negotiations.
It has been a point of dispute within the coalition government as it sought a formula that would increase revenue without penalising future pensioners. A government source told Reuters that Madrid had received positive preliminary feedback from the European Commission about the proposal. The government plans to press ahead in spite of opposition to the proposal by Spain’s main business association, the CEOE. The proposal was slated to be discussed on Friday with the main trade unions and CEOE.
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