Spending review chief sees 5 bn euros in savings this year
Pension, budget choices are political, says Cottarelli18 March, 15:15
Similarly on pensions, politicians have choices on where they might cut, "or, you may also decide that you must not touch," retirement incomes, said Cottarelli.
Last week, he noted that if spending on high-cost pensions "which are very high" were cut, billions of euros could be freed up for spending on other budget items, including job creation.
Cottarelli also told the Senate finance committee last week that budget savings could rise to as much as 18 billion euros in 2015 and 34 billion for 2016.