×
GreekEnglish

×
  • Politics
  • Diaspora
  • World
  • Lifestyle
  • Travel
  • Culture
  • Sports
  • Cooking
Friday
16
Oct 2026
weather symbol
Athens 16°C
  • Home
  • Politics
  • Economy
  • World
  • Diaspora
  • Lifestyle
  • Travel
  • Culture
  • Sports
  • Mediterranean Cooking
  • Weather
Contact follow Protothema:
Powered by
> Economy

New cuts to minimum wages, collective labour contracts

Lenders 'tie' Greek government's hands

Newsroom June 17 09:28

Δείτε περισσότερα άρθρα μας στα αποτελέσματα αναζήτησης

Add Protothema.gr on Google

The Supplementary Memorandum of Understanding sent to the Greek government lays out a series of actions it needs to implement. The document provides that the Greek government will have to introduce changes in the pension system, the social security and the labour force market by Autumn, while particular attention is given to the need for aligning labour force laws with best European practices, including the issue of large scale lay-offs. The report points out that 3 per cent of GDP will be saved until 2025 due to the measures implemented from 2015 till now. The institutions insist on the demands they put forward during the negotiations with the Greek government, which include among other things the abolition of the favourable status for small businesses in areas with a population below 2,000, the abolition of the exemption for farmers to pay less health contributions and the decrease of concessions for scientists the first five years in the workforce. Top priority is given to the complete implementation of the Minimum Guaranteed Income till October, while the document also requires the change of family benefits and disability pensions until September with increasing public expenditure. On the matter of labour, the aim of the new program is to maintain the progress achieved so far, including combating unemployment and more labour market flexibility. The institutions ruled out the prospect of the government changing the current framework of the collective labour bargaining. The current main pensions will freeze until they equal the new pensions that are calculated based on the new unified regulations. Finally, Social Solidarity Pension (EKAS) will gradually be scrapped by December 2019 starting at the top tier of the beneficiaries.

Ask me anything

Explore related questions

> More Economy

Follow en.protothema.gr on Google News and be the first to know all the news

See all the latest News from Greece and the World, the moment they happen, at en.protothema.gr

> Latest Stories

Turkey issues second Anti-NAVTEX in hours, challenging Cyprus’s EEZ and EMC cable survey operations linking Asia and Europe

October 16, 2026

€114m VAT fraud involving smartphones; Arrests in Cyprus, Germany and Italy, searches also in Greece

October 16, 2026

Network of 30 companies, €5.6 million fraud and asset freezes: The case involving Filippos Kampouris

October 16, 2026

“The future of luxury hospitality has people at its heart”: How a top hotel group prioritises employees as much as guests

October 16, 2026

Houthis strike Yemen’s Presidential Palace with missiles and drones: Five dead, Prime Minister & cabinet ministers safe

October 16, 2026

Eight substances found in George Mazonakis’s blood, including cocaine, family-appointed expert says

October 16, 2026

Illegal gambling in Greece: How a criminal ring used rigged software and panic buttons to evade police

October 16, 2026

George Vardinogiannis, known as “The Captain”, dies aged 90

October 16, 2026
All News

> Greece

In reverence, the emotional deposition in Jerusalem, see photos & video

The Holy Temple of the Resurrection opened after many days due to the war between Israel and Iran

April 10, 2026

In the final stretch for the accreditation of joint master’s degrees: Aiming for their launch in the coming academic year

April 10, 2026

Schedule for Epitaph Procession today (10/4)

April 10, 2026

Perfect weather for Easter excursions, according to Tsatrafyllia’s forecast

April 10, 2026

Easter in Greece: The customs that continue in Greek tradition – From Nafpaktos to Corfu

April 10, 2026
Homepage
PERSONAL DATA PROTECTION POLICY COOKIES POLICY TERM OF USE
Powered by Cloudevo
Copyright © 2026 Πρώτο Θέμα