The Greek government –
- Strictly limits overtime for private sector
- Sets minimums for overtime pay.
- 20-plus days a year minimum leave required by law
- Requires minimum of 15 days paid sick leave per year
- Requires business to consult with employees and obtain permission for lay-offs or demotions.
- Has a national collective bargaining minimum wage
- Requires 3-1/2 months unpaid family leave
- Requires one month’s salary for Christmas bonus, 1/2 month’s for Easter and vacation.
In Greece –
- Unemployment = 25%
- Population below poverty line = 20%
- Welfare recipients living in poverty = 60%
- Welfare reduced poverty by = 04%
- Corporate tax rate = 25%
- “Social Security” deduction by employer = 28%
- GDP earmarked for welfare = 22.5%
I’m glad no one in this country advocates a government-mandated minimum wage, or wants to raise corporate income tax, or believes welfare should be indefinite. I’m happy to report I see no trends in this country similar to the decisions made by the Greeks. We’re all way too smart to witness the results of a welfare state and want to repeat those mistakes.