Greece

Finweek English Edition - - IN BRIEF -

Eu­ro­zone fi­nance min­is­ters have agreed to ex­tend Greece’s bailout by four months, which means its €240bn (R3.1tr) pack­age will no longer ex­pire at the end of Fe­bru­ary. I n or­der to get the ex­ten­sion, the Greek gov­ern­ment pro­posed a list of re­form mea­sures, in­clud­ing to com­bat tax eva­sion, cor­rup­tion and i nef f i ci ency, im­prove tax col­lec­tion and care­fully man­age bud­gets in or­der to fund so­cial spend­ing. It also promised to de­lay elec­tion pledges to in­crease min­i­mum wages i mme­di­ately, opti ng i nstead t o phase in col­lec­tive bar­gain­ing with the aim of in­creas­ing wage lev­els over time. It also com­mit­ted to public sec­tor wage re­forms and en­sur­ing that the over­all public wage bill doesn’t rise. The ex­ten­sion still re­quires per­mis­sion from l aw­mak­ers in Greece, Aus­tria, Es­to­nia, Fin­land, Ger­many, Nether­lands and Slo­vakia be­fore 28 Fe­bru­ary.

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