Parliament opens debate on new social security bill

Greek lawmakers started debating on Tuesday evening a social security bill, which Labor Minister Yiannis Vroutsis describing it as a "watershed" law that will affect current and future generations. 

Earlier, the minister tabled an accompanying actuarial report which he said "proves the [draft] law's viability until 2070."

"The law has come to restore injustices of the past and to align with constitutional order and restore SYRIZA's Katrougalos law, which contravenes the constitution," Vroutsis said, adding that during the two-week public consultation of the law, 40 agencies tabled their opinions.

He said the pension system will be brought back to health by correlating the total pension paid to each Greek to his or her contributions. Eventually, the ratio of pension expenses to GDP will approach the average of EU countries, while the new system guarantees all pensions to 2070, he added.