Greece moves to end austerity by increasing wages
Tehran (KNA) - Greek Prime Minister Alexis Tsipras has revealed the government's plan to increase the minimum wage to €650 in a move to end austerity.
The raise is the first increase in wages in nearly a decade. The delay in minimum wage increase embodied the unfairness of austerity plans imposed by eurozone. The monthly minimum wage would go up by 11% from the measly €586, Tsipras noted.
The premier also announced the abolishing of lower-wage category for younger workers.
The socialist leader believes the reform will stimulate the Greek economy which has been severely damaged during the euro crisis.
"[This] will be emblematic for the labor force, a rise that will reinvigorate the real economy," Tsipras told a meeting of his cabinet.
The decision was made as Tsipras faces general elections later this year and is behind in votes. He is determined to reverse some of the unpopular measures Athens has been forced to take by the creditors behind the bailouts that have kept Greece afloat for the past nine years.
Greece left the final bailout program by the European Union last August after receiving the largest monetary rescue in the history of global economics.
Source: PressTV