ECONOMY

Staikouras pledges support for employees forced to work fewer hours

staikouras-pledges-support-for-employees-forced-to-work-fewer-hours

Workers who will be asked to work fewer hours and get a lower salary once the economy reopens will be supported by the state, Finance Minister Christos Staikouras promised on Real FM on Monday.

The plan, inspired by Germany’s "Kurzarbeit" and Britain’s ‘short-term work scheme’ will see the state undertake part of each worker’s losses for a transitional period.

The scheme has not been finalized yet and there are concerns about the risks of tax and social contribution evasion it may entail.

Staikouras added that this will be funded by the European Union’s SURE program, to be activated in early June.