Greece Seeks to Use Stake in Listed Companies to Lower Wages
This article is for subscribers only.
Greece’s government plans to use its holding in companies that are publicly traded to ensure management caps wages in line with a law passed by parliament, Finance Minister George Papaconstantinou said.
“While the government doesn’t legislate on the issue of listed state companies, we intend over the next few days and after the approval of the law, to send a letter, along with the competent ministers, to the management of the specific public enterprises where the state has a majority or a substantial minority holding and invite them to take comparable action,” Papaconstantinou said yesterday during the debate on the bill.