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The World : Greek Wage Freeze to End

September 06, 1987

Greek Prime Minister Andreas Papandreou said a two-year wage freeze will end in January, because his government's austerity program has been successful. Papandreou said in a speech prepared for a trade fair in Salonika that taxes will be reduced in 1988 to help companies pay higher wages. He also said that the state will subsidize rents of low-income groups and employers will be allowed to give productivity bonuses in negotiation with employees. The austerity program, introduced in October, 1985, was highly unpopular with workers and trade unions, who staged a series of general strikes and work stoppages over the past two years.

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