ECONOMY

Setback for ex-Olympic employees

Thousands of former Olympic Airways employees suffered a shock yesterday when the government announced it would not ratify the previous government decree that settled the terms of their departure. Government spokesman Giorgos Petalotis stated that the legislation act signed on September 16, a few days before the October 4 elections, will not get the new government’s ratification, although the joint ministerial decision on it was also ready just one week later. The government is now reported to be treating the decision as invalid, arguing that it lists employees that should not be included. Sources are suggesting that the government considers the cost of the favorable terms for employees to leave the now-privatized national carrier as too heavy for state finances at present, as it amounts to about 700 million euros. Infrastructure Ministry sources added that: «It is provocative to have luxurious arrangements such as this at a time of a fiscal streamlining.»