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Greece has controversially introduced a six-day working week for some businesses in a bid to boost productivity and employment in the southern European country.
The regulation, which came into force on July 1, bucks a global trend of companies exploring a shorter working week. Under the new legislation, which was passed as part of a broader set of labor laws last year, employees of private businesses that provide round-the-clock services will reportedly have the option of working an additional two hours per day or an extra eight-hour shift. The change means a traditional 40-hour workweek could be extended to 48 hours per week for some businesses. Food service and tourism workers are not included in the six-day working week initiative. The pro-business government of Prime Minister Kyriakos Mitsotakis has said the measure is both “worker-friendly” and “deeply growth-orientated.” It is designed to support employees not being sufficiently compensated for overtime work and to help crack down on the problem of undeclared labor. https://lnkd.in/esrbB_4R
Eurozone core inflation unexpectedly sticky: Headline CPI slows to +2.5% in June from 2.6% in May, in line w/forecasts
However, core inflation unchanged at 2.9% – a notch higher than forecasted. Experts had expected it to cool to 2.8%. Source: HolgerZ, Bloomberg
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