IMF recommends against backsliding on Greek labor sector reforms
The IMF continued to toe a strict line vis-a-vis the Greek program, nearly a month before the third and last bailout ends on Aug. 21, with the Fund on Thursday recommending that labor sector reforms in the country be maintained, including a more pro-business framework for collective bargaining agreements.
In a relevant report made public at around noon in Washington D.C., the Fund said liberalization in Greece’s labor market should not be overturned – a nod against reinstating obligatory collective bargaining agreements between social partners, unions and employers, etc. The IMF said competitiveness in the country’s recovering economy would suffer, otherwise.
The Fund also called for the implementation of European “best practices” in the regime governing mass layoffs, while also calling for accelerated efforts to open up so-called “closed professions”, with priority given to the fields of engineers, attorneys and notary publics – a long-standing recommendation by the OECD.
You may be interested
PM Mitsotakis cites Greek Constitution to back mandatory vaccinationsmakis - Jul 23, 2021
Prime Minister Kyriakos Mitsotakis cited the Greek Constitution in response to those opposing mandatory Covid-19 vaccination during his meeting with…
Who Has Spent The Most Time In Space? (infographic)Panos - Jul 22, 2021
As Russia celebrates 60 years since Yuri Gagain became the first person to orbit the Earth, the state of space travel looks…
What Do Americans Think Of Famous Billionaires? (infographic)Panos - Jul 22, 2021
Hot on the heels of fellow billionaire Richard Branson, Amazon founder Jeff Bezos is set to blast into space. He…