Greece wants to issue a new five-year government bond soon, says an anonymous government official. It would be the first attempt by the Greek government to tap into financial markets since the international rescue plan expired mid-2018. The prime minister also announced an increase in the minimum wage.
According to the official, the government bond will be issued soon, but he or she did not know an exact date. The amount of the amount is also unknown.
Last year in August, international emergency measures came to an end after eight years to save Greece from collapse due to severe economic problems. Since the summer, the country has been on its own feet again, and can again borrow money on its own capital on the capital market. Greece also has control over its own financial household.
Minimum wage for the first time in almost ten years
Furthermore, Greek Prime Minister Alexis Tsipras announced on Monday that the minimum wage in the country may already increase by 11 percent in February. Approximately 600,000 employees will face the increase.
It is the first time in almost ten years that the minimum wage has been adjusted upwards. The premier therefore calls it a „historic step“. The standard minimum monthly wage was reduced by 22 percent in 2012 to 586 euros.
Employees under the age of 25 had to surrender more. Tsipras now also proposes to abolish the minimum youth wage. „From your comment, I make you approve of my proposal,“ said the Prime Minister after the applause from the Ministers present at the announcements. The parliament still has to officially agree with the proposals.
The trade unions are not enthusiastic about the salary increase. Employees would not be adequately compensated for the difficult crisis years. Employers were also unhappy, saying that the wage adjustment must be accompanied by tax cuts and lower social security contributions.
