Greece 15-40% pay cut

Collective agreement continuance expires today; hundreds of thousands of private sector workers face 15-40% wage decrease

As mainstream national and international media occupy themselves with the forming of a coalition government, an extremely significant story has received little coverage in Greece: today marks the expiration of the collective agreement continuance (metenergeia ) for 80 out of a total 0f 220 branch collective agreements in the private sector in the country.

Effectively, this means that every single worker previously covered by these agreements is now left facing their bosses alone; it is expected that hundreds of thousands will see their salary reduced to the national minimum wage, while a number of allowances would also be cut. According to the official timeframe, the remaining 140 branch collective agreements will also expire by May 2013.

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