The Greek government is committed to raising the minimum wage to €950 by 2027, aiming to boost worker incomes while providing businesses with a predictable and stable wage framework.
This ambitious goal, announced in 2023, signals a forward-looking approach that prioritizes both economic growth and social progress.
To ensure credibility, the government is emphasizing fiscal discipline and a structured approach, setting it apart from past administrations that faced criticism for unfulfilled promises on minimum wage adjustments.
One significant change under consideration is adopting the European Union's directive on minimum wages. This framework proposes key reforms such as establishing a legal safeguard against reducing the minimum wage, extending minimum wage coverage to public sector employees, creating a national plan for expanding collective bargaining agreements, and potentially adopting France's wage-setting model after 2027.
The proposed wage adjustment formula will consider the impact of inflation on vulnerable households and link increases to overall productivity growth. This data-driven approach aims to ensure fairness for workers without negatively impacting the economy.
By implementing a transparent and stable system, the government hopes to reduce political interference in wage policies. This will allow businesses to plan for the future with confidence and provide workers with assurance that their incomes will keep pace with economic conditions.
In a time of economic uncertainty, this balanced approach seeks to protect workers' rights while supporting sustainable economic development.
By prioritizing transparency and stability, Greece aims to foster trust among businesses, workers, and the public, potentially setting a new standard for balancing fiscal responsibility with social equity in its labor market.
By Anthee Carassava