Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Greece Proposes Payroll Cuts for State-Owned Listed Companies

Greek lawmakers will vote next week on forcing state-controlled publicly listed companies to reduce their wage bill to 65 percent of their 2009 level.

The measure will be included as an amendment to an austerity bill to be voted on in parliament before a European Union leaders’ summit on Oct. 23, Finance Minister Evangelos Venizelos told a parliament committee in Athens yesterday. The legislation includes a number of measures that need to be approved by lawmakers before disbursement of a sixth loan under last year’s 110 billion-euro ($152 billion) EU-led bailout.

Hellenic Petroleum SA will be exempt from the law, which will affect companies including Opap SA, Europe’s biggest listed gambling company, Public Power Corp SA and Piraeus Port Authority SA, Kathimerini reported today, citing the legislation.

Venizelos and Prime Minister George Papandreou have said that parliamentary approval of the legislation and next year’s budget before the EU summit will help Greece in “difficult” loan negotiations.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.