Tag: austerity measures

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Greek Ferry Crews End Strike Early, Easing Travel for Holiday Weekend

Greek ferry crews ended their four-day strike early on Friday, resuming service in the afternoon to ease holiday weekend travel. The seamen’s union secured government concessions on fines for labor violations and unemployment benefits, though they continue to pursue a 12% pay increase. The strike underscores union efforts to restore labor rights rolled back during Greece’s austerity period.

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Greek Communist Party Proposes Reinstatement of Christmas and Easter Bonuses for Workers and Pensioners

The Communist Party of Greece (KKE) has proposed an amendment to restore the Christmas and Easter bonuses for workers and pensioners, payments that were cut during the country’s austerity measures. The plan aims to provide financial relief by reinstating the 13th and 14th salaries for employees and pensions, as part of the KKE’s broader efforts to reverse austerity policies.

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Greece to Complete Bank Privatisations with October Sale of Final Stake

Greece is set to finalise its post-crisis bank privatisations by early October with the sale of its remaining stake in the National Bank of Greece (NBG), according to sources. The Hellenic Financial Stability Fund (HFSF), which still holds 18.4% of NBG, plans to sell 10-13% of this stake. The move signals a recovery for Greece’s banking sector, which had been heavily supported during the debt crisis.