Economy

Labor Ministry to open discussion on minimum wage

The Greek cabinet will have a discussion on the issue of minimum wage with a possible option for a rise, despite objections for a freeze by industrial institutions and business associations.

Currently, the minimum wage in the private sector is set at 650 euros per month – with nominal salary at 758 euros, if the Christmas and Easter bonuses are included – which is an average European salary in the EU, or in the 11th place based on nominal salary and the 13th, based on purchasing power parities, Labor Ministry said.

It is the same ministry that will introduced the issue at the cabinet meeting on July 26.

The Labor Ministry proposal will include three considerations: opinions by social partners and scientific agencies, fiscal flexibility, and living wage needs of workers receiving minimum wage, particularly after the coronavirus pandemic.

Most industrial and business associations, the Bank of Greece, and research institutes IOBE and KEPE support a freeze on minimum wage, while the private sector labor federation (GSEE) calls for a rise to 751 euros immediately and to 809 euros as of mid-2022.

PS Especially if one considers the hikes for food and other essential products at supermarkets and rents, a raise of the minimum wage is urgently due.

But as we know the Labor Minister and the conservative neo-liberal government, there will be again some magical ‘disposition of virtual money here and there’ and workers will be effectively left out without raise.

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