Bulletin
Investor Alert

Market Pulse Archives

Feb. 8, 2012, 3:38 p.m. EST

Greece to cut minimum wage in troika deal: report

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

or Cancel Already have a watchlist? Log In

By Sue Chang

SAN FRANCISCO (MarketWatch) -- Greece promised to reduce the minimum wage by 20% and lower pension payments as part of a deal with the International Monetary Fund and the European Union to secure much needed funds, Bloomberg News reported Wednesday. The IMF and the E.U., along with the European Central Bank, make up the troika of lenders that had been demanding additional austerity measures from Greece before disbursing additional aid. The details on pensions and minimum wage were outlined in a 43-page draft agreement that will be signed by Greek Prime Minister Lucas Papademos, Finance Minister Evangelos Venizelos and Bank of Greece Governor George Provopoulos later, the news agency said.

This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.