The International Monetary Fund proposed extensive interventions in the labor market to make it more “flexible” and limit youth unemployment according to its annual policy review of the Eurozone on Friday.
The IMF warns that reforms achieved in the labor market must not be changed, especially those that concern the minimum wage, which it says is the highest among the EU countries compared to GDP per capita. The Fund also advocates legislative changes to harmonize the framework for mass layoffs with that of the EU.
In a separate point, the report notes that Greece must open restricted professions, with priority given to civil engineers, lawyers and cargo handlers.
It also requests that the Greek government implements the OECD recommendations on reducing barriers to competition in the wholesale trade, construction and electronic commerce, and is in favor of reforming the licensing system in the food and beverage industries, as well as tourism.
(Source: ANA-MPA)
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