Drop in Greek Minimum Wage Predicted for 2013



 pension cuts

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 compared to those of 2000. Those who work in the private sector have lower net salaries than bank clerks and those working in the Public Sector.

The employees at the Hellenic State-owned Enterprise (DEKO), are the only ones whose net salaries are actually higher than they were back in 2000.

In detail, OECD’s report shows:

  1. Net salaries of all employees have increased by 23.2 percent during the period 2000-2009. In the next four years, the net remuneration has dropped by 20.2 percent. Thus, the total loss for the period 2000-2012 stands at 1.7 percent
  2. Public servants have suffered a smaller decrease in their net remuneration due to the significant raise in their wages during the period 2000-2009.
  3. Bank employees have managed to get a raise of 17.1 percent during the period 2000-2009. Due to the economic recession, there was a decrease of 17.2 percent. Through the years 2000 to 2012, their net salaries were decreased to 3.1, in comparison to those of 2000.
  4. Self-employed individuals have seen their wages raised by 24.4 percent during the period 2000-2009, while over the following four years suffered pay cuts up to 21.2 percent. This resulted in a decrease in their net salaries by 2 percent.
  5.  Last but not least, minimum wage has dropped to the lowest level from 2000 to 2012 due to recent changes in the law. The current minimum wage, as it is set by law, is 10 percent lower than that of 2000.

16 COMMENTS

  1. The Greek wages need to go down at least by 40%-45% more.Their current levels are way too high, they do not match Greece’s low economical productivity and currently artificially subsidized by the Greek international bailouts.

  2. Actually Merkel is being overly generous with Greece for subsidizing the current unaffordable high Greek wages.Greece should be kissing this woman hands.If it wasn’t for the contionuous German bailouts,Greece wages/salaries would match the ones in Albania and Bulgaria.

  3. Why should I care?As an US citizen I only care that my tax dollars are not pissed into Greece by IMF’s Lagarde in order to keep sponsoring the currently unaffordable Greek wages..Please have any wage you want,Greece-but not with our money!Stop asking other countries for money you don’t even have intention to repay .It is called Theft.

  4. It is not about acomplishments.It is about Greece living within its means and stop begging other countries for money to supplement its incomes.

  5. Don’t feed the antihellenic troll. He’s not here is discuss. He’s here solely to demonize Greeks (i.e. he’s an extreme nationalist for nearby state trying to obfuscate his motives by putting USA in his id). If you must debate with him my suggestion is a steady stream of condemnation to give him a taste of his medicine.

  6. How about Nazis like you live within your own means and get jobs so you finally move out of your parent’s home?

  7. According to the Skopian State Statistical Office, the poverty rate in Skopia during 2011 was 30.4 %.
    Furthermore, Greece has blocked and will continue to block Skopia’s entry into the EU and NATO, two organizations that Greece has been a member of for decades. Skopia will remain a backwater of the Balkans until it finally dissolves in a violent replay of the 2001 ethnic Albanian rebellion against Slavic authorities. The exploding Muslim Albanian minority in Skopia which stood at 25.2% of Skopia’s populace according to the 2002 census, and is estimated at 30% today, ensures that Skopia’s fate is sealed.

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