Unions and employers to discuss labor costs

Business representatives and workers? unions are due to meet on Thursday to discuss proposals to bring down labor costs in Greece.

The European Commission, International Monetary Fund and European Central Bank ? or troika ? have asked Greece to find ways to improve its competitiveness.

It has been suggested that the minimum wage of 751 euros gross should be reduced and the 13th and 14th monthly salaries that most private sector workers receive should be scrapped.

Employers and unions, who also met last week, have rejected that idea.

Unionists and employers agreed that there should be no change to the current national collective contract, which expires at the end of the year. This means that low wage earners would be in line for a 2.6 percent increase, which is below inflation, later this year.

The two sides favour a reduction in social security contributions and have discussed a wage freeze for the next few years.