Friday December 19, 2014 Search
Weather | Athens
17o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Troika demanding increase to working week, retirement age

Technical experts from the troika are expected at the Labor Ministry in Athens on Wednesday following the latest demands for liberalization of the Greek labor market by the Greek lenders.

Sources said that during a meeting between Labor Minister Yiannis Vroutsis and troika chiefs on Tuesday, Greeces lenders upped their demands for changes to labor regulations.

These requests included scrapping the eight-hour working day and allowing employers to ask staff to work up to 78 hours a week. The only restriction in terms of working hours is that employees should be allowed a minimum of 11 hours of rest between shifts or working days.

The troika has also reportedly asked for a reduction in the period of redundancy notice that employers have to give, thereby allowing them to pay half of the total compensation payment due. The current notice period is four to six months.

The inspectors also asked for the retirement age to rise by two years to 67, following the last rise in 2010. The troika is said to want to the increased limit to be effective immediately, meaning workers who were due to retire next year could have to wait another two years. This measure is estimated to save 1 billion euros.

The government had planned for about 5 billion euros of the 11.5 billion euros in spending cuts the troika is demanding to come from reductions in wages, pensions and welfare benefits but this number is now set to exceed 6 billion.

ekathimerini.com , Wednesday September 12, 2012 (10:49)  
Stores wrecked in protests to be let off municipal fees
SYRIZA rules out political consensus before polls
University transfers in doubt after process canceled at two departments
Coalition MPs push for compromise over president
Importers told to pay up in advance
In the last 10 days foreign suppliers have again started asking for the full cost of commodities exported to Greece to be paid in advance by their local representatives, in a picture reminis...
Jobless rate posts steady decline
Unemployment fell to 25.5 percent in the third quarter of the year, against 26.6 percent in the second quarter of 2014 and 27.2 percent in the third quarter of 2013, according to seasonally ...
Inside Business
SOCCER
PAOK loss at Giannina brings Olympiakos to within a point
The bad losses that PAOK and Panathinaikos suffered on the road on Thursday allowed Olympiakos to gain significant ground on the table and come to within one point from the top after the mid...
BASKETBALL
Reds lose in Turkey to motivated Galatasaray
Olympiakos went down at Galatasaray 79-74 on Thursday for its second defeat in the first round of the Euroleague that ended with the Reds topping their pool with eight wins in 10 games. With...
Inside Sports
COMMENTARY
New weapons of diplomacy
Hollywood screenwriters couldnt make it up: That Sony, one of the worlds biggest film producers, would be forced to pull a comedy about the assassination of North Koreas dictator after a ...
COMMENTARY
Europes drama in Greece needs final act to avoid tragedy
Judging from Wednesday's vote in the Greek parliament, Prime Minister Antonis Samaras may not get the mandate he wants to keep economic austerity measures in place and avoid defaulting on th...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. PAOK loss at Giannina brings Olympiakos to within a point
2. Reds lose in Turkey to motivated Galatasaray
3. Importers told to pay up in advance
4. Jobless rate posts steady decline
5. Piraeus and KKR strike loans portfolio deal
6. German approval and praise come at key time
more news
Today
This Week
1. Europe's drama in Greece needs final act to avoid tragedy
2. Election looms as Samaras fails to win vote for president
3. Kammenos maintains firm position, says general election is 'one-way street'
4. What SYRIZA says about Greeces economy, its debt and the euro
5. Snap elections would lead to euro exit, says former premier
6. Merkel says Russia sanctions to remain unless Putin yields; Greece's prospects 'better than two years ago'
Today
This Week
1. Juncker warns Greeks against voting 'extreme forces' into power
2. Romanos and the dilemma
3. Samaras summons bond vigilantes with euro exit talk
4. A friendly yet firm message from Pierre Moscovici
5. Greece reruns doomsday scenario as politics collide with markets
6. Gap between SYRIZA and New Democracy closing, says poll
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.