Shame… especially after Greek bond yields fell to their lowest levels yesterday, since the debt restructuring earlier in the year.
The troika is due to resume talks with Labor Minister Yiannis Vroutsis on Tuesday. Greece’s lenders want the notice period to be reduced from six months to three and for the compensation to be a maximum of 12 months’ pay rather than 24.
Another sticking point is the troika’s demand for immediate sackings in the public sector. A meeting between visiting officials and Administrative Reform Minister Antonis Manitakis on Monday failed to yield results, although the latter said he was hopeful that there would be an agreement. The troika has rejected a plan for 15,000 civil servants to be dismissed with reduced wages for a year, demanding instead that bureaucrats from state organizations that are closed or merged be made redundant straight away.
(ekathimerini)