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A party spokeswoman, Rena Dourou, said the legislation would "finish off pensioners, workers, the unemployed and the young, everyone in fact who is shouldering the burden of a crisis for which they are not to blame".
But even deposits under that amount are to be taxed at 6.75 percent, meaning that Cyprus's creditors will be confiscating money directly from pensioners, workers and regular depositors to pay off the bailout tab.
Tymoshenko aired an effective commercial ("Ukraine will be with Europe") that showed her looking comfortable, and glamorous, with Angela Merkel, Donald Tusk, Nicolas Sarkozy (but not with Putin); Yanukovych answered with an even more effective commercial ("Ukraine for the people," still) that showed photographs of coal miners, pensioners, workers, and families.
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Inflation threatened the livelihood of many of those on fixed incomes, especially pensioners, administrative workers, and other groups not able to organize as effectively as industrial workers.
The disadvantage of such a reform is that governments cannot promise existing pensioners, or workers who will soon become pensioners, the guaranteed pension precisely because it is dependent on building up an adequate fund.
Soon more of us will be pensioners than workers.
On current trends, by 2025 there will be almost as many pensioners as workers.
The authority would weigh the interests of pensioners, state workers, businesses and taxpayers.
Aged pensioners and workers were not required to participate, but could volunteer to opt in.
As the proportion of pensioners to workers in Europe grows, governments will find it increasingly difficult to support those pensioners from taxation.
Benign disinflation means rising real incomes for lenders, pensioners, and workers, and falling energy prices for industry.
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CEO of Professional Science Editing for Scientists @ prosciediting.com