Friday, July 16, 2010

• Public Sector

The Hellenic Parliament voted on the individual articles of the draft law, reforming the public-sector pension system yesterday, with 156 votes in favour, and against 128.

• Private Sector

Unions representing salary earners in the private sector and employers' federations signed a three-year national collective labour agreement yesterday, envisaging a freeze in wages for the next 12 months and pay rises that will link the minimum wage to eurozone inflation over the next two years.

According to the agreement, private-sector employers will continue to pay so-called "holiday" bonuses - a payment system in which salaries are divided into 14 instalments, with workers receiving higher pay at Christmas, Easter and the summer holidays.