Calamos Supports Greece

minimum wage

Employers and Employee Unions Agree in Principle on New Labor Laws in Greece

Representatives of employer associations and employee unions reached a minimum level of agreement on Tuesday on the upcoming changes on labor laws. The two sides negotiated in the presence of Labor Minister Giorgos Katrougalos. They chose to put disagreements and...

Creditors Quartet Wants Greece to Hurry With Reforms to Avoid Brexit Backlash

A European official in Brussels told Greek journalists that the Greek government should accelerate efforts to adopt the economic program it has agreed to so that unnecessary consequences of the Brexit aren't felt in the country. Greece's daily newspaper,...

ESEE: Raising Minimum Wage Will Boost Greek Economy

The National Confederation of Greek Commerce (ESEE) appeared supportive toward the newly elected Greek government's proposal to gradually restore the country's minimum wage to 751 euros. In a statement issued on the matter, ESEE estimated that such a development will...

No Marriage and Child Benefits to Private Sector Employees

According to Imerisia newspaper, the new collective agreement for private sector employees signed this month does not provide for marriage and child benefits. Up until now, employees received a 10% benefit for being married and 5% for each child. The...

850,000 Workers Unpaid for a Year

The financial crisis has dramatically changed the lives of millions of Greek citizens whose wages have been cut while their purchasing power has gone 30 years back. According to the annual report of the Labor Institute of the General Confederation of...

Greeks Are the New Cheap Workers in Holland

In Holland, there are many Greeks who work for many hours as unskilled laborers in greenhouses, farms, taverns and restaurants, while they are paid below the minimum wage rate, according to Greek newspaper I Efimerida. There is a new generation of...

The European Wage Map

Greece was placed among the last positions of the list of EU countries with high and medium growth in terms of gross earnings (gross wages and employer contributions). More specifically, the real minimum wage in Greece fell by 23.9% in 2013. During the...

Drop in Greek Minimum Wage Predicted for 2013

  According to the Organization for Economic Co-operation and Development’s (OECD) (released by Kathimerini), there is a large decrease in the net salary of the Greeks. OECD’s data shows that the net salaries of the Greeks has decreased by 1.7 percent...

Wage below 586 Euros by Ministerial Decision

The Troika opened the backdoor for a wage below 586 euros by issuing a ministerial decision, cancelling the definition of the minimum salary by law, as it was initially provided by the decision of the Ministerial Council of the...

Damanaki Says Minimum Wage Cut Seen

After hoping to quash speculation that the government would again lower Greece's minimum wagem which has already been cut 22 percent to 586 euros ($777) a month before taxes, the European Union's Maritime Affairs and Fisheries Commissioner Maria Damanaki...