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Eurozone Creditors Contemplate Six-day Workweek for Greece

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Eurozone Creditors Contemplate Six-day Workweek for Greece

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Greeks may need to work six days a week to increase their competitiveness, according to a leaked eurozone document that calls for change in the country’s five-day work schedule.

“Under a heading ‘increase flexibility of work schedules’ the Troika—which is composed of officials from the European Commission, European Central Bank (ECB) and International Monetary Fund (IMF)—states that the country should ‘increase the number of maximum working days to six days across all sectors,’” EUobserver reported. “It adds that the government should also reduce daily rest between shifts to the 11 hours minimum and scrap restrictions on the length of shifts.”

According to the most recent figures provided in an article by Financial Times, Greek unemployment was 24.4 percent in June, compared to 23.1 percent in May. More than 1.2 million people across the country of 10 million are out of work.

The letter was sent to Greek finance and labor ministries prior to eurozone inspections in the country, which will determine whether Greece should receive its second 31 billion euro EU bailout installment.

“After a long delay caused by months of political paralysis in Greece, the troika inspectors return to Athens…to scrutinise Greek observance of its bailout terms,” Guardian stated. “They are expected to deliver a verdict next month that will determine whether Greece is ultimately allowed to remain in the single currency.”

The article added, “Although statements on Greece in Berlin, Paris and Brussels have been more upbeat…there is strong speculation in Berlin and Brussels that Greece may have to exit the euro, but not until after the US elections in November.”

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