Three changes to wages and labor relations were agreed late Tuesday during a meeting at the Greek finance ministry between an EU-IMF 'troika' team in Athens, labor and social security minister Louka Katseli and finance ministry senior officials.
The agreement reached Monday night settled the final issues that were outstanding ahead of the finalisation of the terms of the Medium-Term Program on the economy.
According to sources, the two sides agreed that the salary of young people (18-25) entering the job market for the first time may be up to 20 percent lower than the National Collective Labor Agreement.
Second, the time period for the period of work during which a combination of increased and reduced work without payment of overtime may be applied is extended from the initial four months to six months.
Third, the specific-time work contracts are extended, with the two-year contracts eligible for renewal of up to two times, as foreseen under Presidential Decree 180 of 2004, are converted into three-year contracts.