COLA to rise for troops in nations that use the euro

[unhappycamper]

COLA to rise for troops in nations that use the euro
By Sandra Jontz, Stars and Stripes
European edition, Sunday, March 30, 2008

Troops in Europe will see a slight boost in their cost-of-living allowances, but only because the tumbling value of the U.S. dollar against the euro has hit them so hard in the pocketbook.

Tuesday, the COLA will increase a few points for Europe-based troops in countries where the euro is used as the local currency, according to a Web posting by the Per Diem, Travel and Transportation Allowance Committee. The COLA will not be rising in England.

The allowance serves as a supplement to troops’ pay to offset higher cost of living overseas. It is based on local prices, the buying habits of troops and their families, and local exchange rates.

All of the rate increases that go into effect Tuesday were based on the exchange rates alone, according to the committee’s posting.

So, for example, the daily COLA allotment for an E-7 living in Naples, Italy, with 18 years of service and three dependents increases from $47.78 a day to $49.49 a day. The same servicemember living in Mannheim, Germany, will see an increase from $36.31 a day to $38.22.


Rest of article at: http://www.stripes.com/article.asp?section=104&article=53705