A restoration of collective bargaining agreements, a gradual increase in the minimum monthly wage scale and creation of a Greek development bank are among the highlights, according to Bloomberg on Friday, of a growth strategy presented by the country’s finance minister to Eurozone counterparts in Sofia the same day.
According to the US-based news service, Greek FinMin Euclid Tsakalotos used the a Eurogroup venue to present a post-bailout plan drafted by the leftist-rightist government in Athens and requested by creditors.
The Tsipras government also reiterated its commitment to implement significant structural reforms that have stalled for years, including the “Holy Grail” of Greek public administration modernization: creation of a unified, functional and digitalized land registry (cadastre) throughout Greece.
The “Tsakalotos plan” presented to Eurozone finance ministers in Sofia, Bulgaria also promises a further reduction in bureaucratic “red tape” and the encouragement of private investment in research and development.
On its part, Bloomberg reminds that unemployment still remains above 20 percent in the country, a condition that doesn’t’ bode well for wage increases. Additionally, creditors have previously opposed the creation of a national development bank – an oft-repeated project cited by the leftist government – due to concerns over clientelism and graft in the country.
