Pensioners in Greece win court battle for bailout refund

A high court in Greece has ruled in favor of pensioners in a class action case in which they demanded the reimbursement of money cut from their income during international bailouts

The Council of State administrative court ruled Tuesday that pension cuts imposed during 2015-16 occurred without the proper legislative procedure and the money should be returned.

The court only ruled in favor of pensioners whose associations were directly involved in the complaint. But the ruling could pave the way for broader claims that would have a greater fiscal impact on the country’s troubled public finances.

Pensioners’ income was cut by successive governments during international bailouts by European Union institutions and the International Monetary Fund between 2010 and 2018.