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IMF bigwig tells Greece to cut minimum wage
Page last updated at 08:52 GMT, Wednesday, February 1, 2012 - 13:52 EST
Morning Star:
The Greek government should lower the minimum wage and cut holiday bonuses in the private sector if it wants to receive a new loan from Western bankers, a senior International Monetary Fund official declared today.
Chief IMF inspector Poul Thomsen said a deal on a second €130 billion (£108bn) "bailout package" was close but insisted that the government should lower employment costs and slash the minimum wage of €750 (£620) gross pay per month.
"Reforms to the wage-setting mechanism, to the system for collective agreements could help," Mr Thomsen said in an interview with the Kathimerini newspaper.
"These could include limitations on the minimum wage."
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Comments
The official who's senior must be senile
February 1, 2012 by John Gurlides (United Kingdom ), 15 weeks 3 days ago
The big mistake here is that the wrong people are being targeted. If cuts must be made: slash the higher salaries, remove useless levels of management and tax the rich.
The lower levels of Greek society have already been hit hard.
how about shipping?
February 3, 2012 by Chris (United Kingdom ), 15 weeks 1 day ago
Not to mention the need to tax the super-rich in shipping! In a recent documentary in the UK it was revealed that shipping magnates aren't liable to pay tax! How on earth can the richest elements of society be exempt from paying tax?