Eurozone lenders are demanding that the Greek government introduce a six-day work week in return for a second bailout, the Guardian reports.
This is one of many stiff terms found in a leaked letter from the three eurozone creditors—the European commission, European Central Bank, and International Monetary Fund. Officials are sharply policing Greece’s compliance with the terms for austerity introduced in return for the bailout, and are demanding Greece make work hours more “flexible” by introducing a six-day work week, lowering the minimum required “rest hours” to only 11 hours a day, and eliminating a mandatory midday break.
In Berlin and Brussels, there is strong evidence to show that EU leaders believe the Greek government has fallen behind in the economic reforms imposed on the country in return for two bailouts in the past two years.
Greek Prime Minister Antonis Samaras is asking for four years to fulfill debt reduction targets and spending cuts. EU creditors are asking for targets to be reached in two years.
There is strong speculation in Berlin and Brussels that Greece may be forced to exit the eurozone, but likely not until U.S. elections have wrapped up in November.
Wednesday, September 5, 2012