Greece
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Koutroumanis

Greek Lawmakers Set Aside Help for Debtors

ATHENS – After approving $40 million in state funding for political parties and ratifying more austerity measures for cash-crunched Greeks, the Parliament set aside a bill that would help ease household debt saying there was not enough time to...

Greece Finds 40,000 Cases of Pension Fraud

ATHENS – Nine months after it was reported that Greece was paying pensions to 4,500 dead, it has been discovered the country – in the midst of a deep recession and economic crisis – is paying benefits as well...

Pension Battle Cracks the Greek Coalition

ATHENS – Interim Prime Minister Lucas Papademos’ six-week old shaky coalition government is showing signs of splitting over a refusal by the conservative New Democracy partner to cut auxiliary pensions in another cost-cutting scheme to keep Greece from going...

Troika Loan on Hold, Xmas Bonus, Pensions at Risk

ATHENS – Greece’s interim Prime Minister Lucas Papademos, who is overseeing a shaky coalition of three parties, is trying to persuade international lenders to release a delayed $11 billion loan installment, without which the country will not be able...

Changes in Sector-Wide and Labour Contracts

Labour & Social Insurance Minister George Koutroumanis announced the extension of business labour contracts in enterprises with a workforce of less than 50 employees. Because of this, the extension of sector-wide agreements is hindered. Minister Koutroumanis noted that collective labour...

Troika Wants Greece's Minimum Wage Scrapped

More bad news is brewing for Greek workers in a seemingly endless onslaught of pay cuts and tax hikes. In return for bailout loans keeping the country afloat, the Troika of the European Union[...]