Athens News Agency: News in English, 10-06-16

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From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

[01] PM Papandreou arrives at PES summit

[02] Samaras at EPP summit in Brussels

[03] Labour market reform

[01] PM Papandreou arrives at PES summit

Speaking to reporters, Papandreou said that the issue of the Greek crisis highlighted the weaknesses of the international market and the need for coordinating policies.

"Today we have a support mechanism that must be consolidated, however, enacted and supplemented by a support fund," he said.

"A better supervision is also necessary for the International market which is operating with untransparency and the enactment of rules," he added and stressed that "this is an issue that we also want to be promoted at the G-20."

Papandreou noted that the Socialists believe that fiscal balance is not enough, investments are also needed to support growth, that can take place at European level with new means, such as the taxing of transactions (that can provide 200 billion euros annually), the green tax and the eurobonds.

Lastly, the Greek prime minister said that public policies must support employment and social cohesion as well as the change of the economy into a green competitive economy.

"This is our progressive proposal," Papandreou stressed in light of the discussion that the 27 European Union leaders will be having on Thursday on the strategy of "Europe 2020" and the prospepcts of economic governance.

[02] Samaras at EPP summit in Brussels

In statements made afterwards, Samaras underlined the need for better financial coordination in EU governance.

He said that within this framework he supports strengthening the defense mechanisms against speculators; the need to set up a European Credit Rating Agency under the supervision of the European Central Bank, as well as the adoption of a flexible role by the European Budget and the member-states depending on whether there is a recession or economic growth.

Samaras pointed out that when assessing the member-statesâ expenditures, Europe should be taking into account the fact that certain countries, like Greece, spend huge amounts of money for their defense and the protection of their borders, which are Europeâs external borders as well.

[03] Labour market reform

More analytically, the Presidential Decree envisages that enterprises with a workforce between 20 and 150 workers will be allowed to lay off up to six workers per month, while for enterprises with a workforce of more than 150 workers, this figure could reach up to 30 workers per month.

The Labour ministryâs recommendations envisages that compensation payment to laid off workers could be cut by 50 pct if employers offered a four-month written warning to workers, while new terms on employment and payment for newcomers in the labour market were also envisaged along with special contribution rights offered to workers over 55 years of age who lost their jobs.

The government recommends that young people aged up to 21 years would be hired with a salary up to 80 pct of minimum wages, while for people aged 21-25 this percentage would be raised to 85 pct of the minimum wage.

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