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Tag Archives: wages

IMF Lagarde: Greek Euro Exit Hard, Not Only For Greece

Greece’s  political leaders need to stick to the commitments and abide the austerity programme, IMF head Christine Lagarde said and she warned that a Greek euro exit would be expensive and hard not only for Greece. She also stressed that the IMF would talk to any democratic-elected Greek government, implying the IMF …

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BoG: Greek Bank Employees to Work More for Less Salary

The first employees’ fortress fell on the altar of Memorandum of Understanding II. Once powerful banking sector union had to bow to the dictates of the times. Employees at the Bank of Greece ‘broke’ the collective bargain and agreed to 17% wages and allowances cuts and increase of the working hours. Bank employees …

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Greek Salaries to Reach Levels of 2001 in …2013!

While the whole world is going forwards, Greece is going backwards. In the year 2013, Greek workers will experience a miracle. Their salaries, sharply cut in the era of loan agreements, will reach – or better say: return – to the levels of 2001! This has been predicted in the …

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Greece’s President Papoulias Has Waived His Salary

The President of the Greek Republic Karolos Papoulias will stop receiving compensation for the performance of his duties. Finance Minister Evangelos Venizelos announced this important decision after a meeting with Papoulias on Wednesday morning. “The President asked me to initiate procedures to make this happen” Venizelos told reporters. Newspaper Ethnos had …

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Wanna Know Why Greece Went Bankrupt?

OK, Greece went bankrupt partly because of the tax evasion. Partly because of 1,000 reasons. But most of all because of the scandalous wages in the public sector and state-run enterprises. There is this delicious report of Greek newspaper Proto Thema  on its online edition. The report focuses on the transfer …

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Youngster arrested in …

The latest from austerity is Greece: “A youngster  was arrested today in possession of small amount of salary! He claimed it was intended for personal use… ”  This genious news was found in FB, posted by user Di.Di.

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