Greece implemented a limited six-day workweek this month in an effort to stimulate its economy.
Starting in July, certain industries in Greece may allow employees to opt for a workweek of up to 48 hours, instead of the previous maximum of 40 hours. Workers exceeding the 40-hour limit will receive an additional 40% in overtime pay.
Greek Prime Minister Kyriakos Mitsotakis described the change as “growth-oriented” and aimed at combating tax evasion resulting from undeclared work.
Following the global financial crisis in 2007-2008, Greece faced a sovereign debt crisis that prompted austerity measures, higher taxes, and bailout loans from the International Monetary Fund and the European Central Bank.
In contrast to some other economies in Europe and the United States moving towards a four-day workweek, Greece’s adjustment to the workweek is in the opposite direction.
Vermont Sen. Bernie Sanders, for instance, proposed legislation this year to redefine the workweek to 32 hours under the Fair Labor Standards Act.
According to a recent survey of American CEOs, 30% indicated they were considering implementing new work schedule shifts like a 4-day or 4.5-day workweek.
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