Troika Demands Greeks Adopt Six-Day Workweek |
| AdvisorOne - Sep 5, 2012 |
Greeks could be forced into harsh new labor regulations as part of the terms of its bailout, according to a leaked letter from the so-called troika of the European Commission (EC), the European Central Bank (ECB) and the International Monetary Fund (IMF).
Among those new demands is the implementation of a six-day workweek—but that’s not all. Also included are strictures on the minimum wage, working hours, overtime limits and vacations—all measures guaranteed not to be popular in a country where people are already struggling with a years-deep recession.
The Guardian reported late Tuesday that the letter from the troika spelled out tough new demands in exchange for releasing funds to Greece for the next tranche in its bailout. The country is seen as not complying with the existing terms of its bailout—all deeply unpopular in a country where the newest government, elected on a promise to seek additional time to meet commitments, is now struggling to hold together a weak coalition to adhere to bailout terms.
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- Posted: 2012-09-05 11:05:01
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