Private Sector
Business
Greek Bank Deposits Dropped to 2003 Levels in July
Greek banks lost 39.4 billion euros in deposits between January and July.
The Bank of Greece (BoG) announced on Thursday that Greek households withdrew 1.43 billion euros from Greek banks in the month of July, thus lowering the total Greek bank deposits to...
Greece
PASOK Opposes Govt Plans for Changes in Public Sector Wages
Greek coalition government partner PASOK declared its opposition regarding the new pay structure in the public sector after the plan was leaked to the media.
The party, which used to rule Greece for more than three decades, attacked Administrative Reform Minister Kyriakos Mitsotakis directly,...
Greece
562 Public Employees Fired, Optimism in Private Sector
A total of 562 public employees have been fired in 2014 for gross misconduct, the Ministry of Administrative Reform announced Tuesday.
In 2012 and 2013, a total of 351 public employees were laid off for similar reasons. Some of the...
Economy
Troika Talks Continue in Paris With Focus On Labor Union Rights and Layoffs
Greek government officials spent a second day in talks with the Troika representatives in Paris yesterday. Greece’s foreign creditors were pressing for changes to make it harder for labor unions to call strikes and the introduction of legislation facilitating...
Economy
Bank Credit to Private Sector Falls Further in July
Bank credit to the domestic private sector remained negative in July, with the annual growth rate of total credit extended to the domestic private sector at -3.7%, from -3.5% in the previous month, Bank of Greece (BoG) said on Thursday.
The central...
Economy
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...
Business
Private Sector Greek Employees Say No to Work Hour Extensions
Employ unions of the private sector have reacted after a recent decision was made by the Regional Council of Attica. In particular, the Regional council has decided to organize a series of festive celebrations on Saturday the 28th of...
Business
Civil Servants Paid More than Private Sector Employees
As shown by a recent European Commission report, the private sector is slowly losing its former glory. It appears that nowadays, the salary of civil servants exceed those of a private sector employee.
Since the financial crisis, caused by the...