Pay has been slid­ing 3.1 pct a year

Kathimerini English - - Focus -

Salaries in Greece have shrunk at an an­nual av­er­age of 3.1 per­cent since 2009, ac­cord­ing to a sur­vey con­ducted by the Euro­pean Trade Union In­sti­tute (ETUI) for the Euro­pean Trade Union Con­fed­er­a­tion (ETUC).

Fol­low­ing 10 years in which Euro­pean growth in­dices re­mained flat or fell, the picture ap­pears more op­ti­mistic this time, al­though there re­mains a high de­gree of uncer­tainty, the ETUI sur­vey shows.

Drop in salaries

In this con­text, Greece is one of the seven Euro­pean Union mem­ber-states where work­ers to­day have not ben­e­fited from the bloc’s fi­nan­cial re­bound, as their salaries are lower than eight years ago. In the 2009-16 pe­riod, the av­er­age salary in fixed prices (with­out in­fla­tion) dropped by 3.1 per­cent ev­ery year in Greece, 1 per­cent in Croa­tia, 0.9 per­cent in Hun­gary, 0.7 per­cent in Por­tu­gal, 0.6 per­cent in Cyprus, 0.4 per­cent in the UK and 0.3 per­cent in Italy.

The sur­vey also found that in 18 EU states, salaries grew at a much slower pace in those seven years com­pared to the eight years up to 2009. It was only in three coun­tries – Ger­many, Poland and Bul­garia – that the in­crease in salaries in 2009-16 ex­ceeded that recorded in the 2001-08 pe­riod.

The bonds that the OPAP gam­ing com­pany plans to is­sue will have an in­ter­est range from 3.4 per­cent to 3.9 per­cent, it was de­cided yes­ter­day. The Greek gam­ing mo­nop­oly in­tends to raise an amount of up to 200 mil­lion eu­ros to fi­nance its in­vest­ment pro­gram up to 2019.

In 2009-16, the av­er­age salary in fixed prices dropped by 3.1 per­cent ev­ery year in Greece.

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