Legal immigrants are broadly satisfied with working conditions in Greece, according to an Athens Labor Center (EKA) survey which estimates their average daily wage at 35 euros. Some 78 percent of respondents said that their employer pays their social insurance and 60 percent said they work normal hours and are paid for their overtime, while 90 to 95 percent say they have good relations with their Greek colleagues. However, 42 percent said that they are paid below the wage set by collective labor pacts for their occupation; 43 percent are paid less than their Greek colleagues and only one in four are union members. Finally, 20 percent stated they face bad working conditions.

The Greek government must adopt the EU directive about mass layoffs, protecting employees from abuse of power by employers, according to the Commission's director for employment and social services, Odile Quintin, who responded to a question by Left Coalition MEP Dimitris Papadimoulis. Asked about certain layoffs in the banking sector that were disguised as resignations, Quintin said these were illegal layoffs as they exceeded the percentage banks are allowed. There is a vacuum in Greek law, she added, and the Commission will ask Athens for a law amendment timetable.

A team of Organization of Economic Cooperation and Development (OECD) officials arrives in Athens today with a view to preparing a report on the Greek economy, to be released by summer. Their meetings will include those with Economy Minister Giorgos Alogoskoufis and Bank of Greece Governor Nicholas Garganas.

The average annual general industrial production index showed a 0.95 percent rise in 2004, compared with 2003, according to National Statistics Service data. «This means the negative trend has been reversed; as in 2003, this index had shown a 5.25 percent yearly decline,» Development Minister Dimitris Sioufas said. Sectoral indices also went up, with mineral production showing a 0.16 percent yearly rise. The manufacturing production index rose by 0.90 percent in 2004, having fallen by 0.41 percent in 2003.

Water utility EYDAP is looking to expand into the Greek mineral water market with the Pepsi Bottling Group Inc, an EYDAP source said yesterday. «There are ongoing talks. If these go well, we expect to produce a branded mineral water product in the summer of 2006,» the source told Reuters. (Reuters)

The Capital Market Commission yesterday decided to take legal action against members of the board of listed underwear industry Sex Form, as, according to the chartered accountants' notes in the company's financial statements for 2004, it illegally paid 5 million euros to its vice president and CEO, while its explanations were deemed insufficient. The commission will also press for an official audit of the company.