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Troika: Stop Automatic Wage Hikes

troika-908It may come as a surprise during Greece’s crushing austerity measures that anyone is getting a pay raise in the public sector, but the country’s international lenders have ordered an end to automatic wage increases based on the number of years workers have served, the newspaper Kathimerini reported.
And after promising there would be no more austerity measures, the government led by Prime Minister and New Democracy Conservative leader Antonis Samaras is looking to again possibly reduce the minimum wage, which was cut to 586.08 euros per month ($795) before taxes.
The newspaper reported that the Troika of the European Union-International Monetary Fund-European Central Bank is pressing Greece again on both fronts. Under current labor legislation, workers earning the minimum wage see their salary increase by 58.61 euros ($80) per month every three years. The calculation of the new minimum wage scheme comes at a time when collective contracts in most sectors have expired.

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