Representatives of the EC-ECB-IMF "troika" have reportedly called for lower private sector labour costs in the country via the abolition of a national collective bargaining agreement, during a meeting with relevant Labour & Social Insurance Minister George Koutroumanis on Monday.

    Ministry sources in Athens said the minister expressed reservations over the idea, while in response to another 'troika' demand, namely, a three-year freeze in ratifying sector-wide collective labour contracts, Koutroumanis reportedly proposed ratification of all sector-wide contracts envisaging zero wage increases.

    The two sides, however, agreed to extend special business labour contracts to enterprises with a workforce of less than 20 employees, a measure that will essentially allow a majority of employees to agree to pay cuts.