Under pressure from lenders, Greece imposed severe pay cuts in 2012 during bailout programs funded by a European Union rescue fund and the International Monetary Fund. As the country was on the brink of bankruptcy, the government took control of wage policy ‒ previously set through labor negotiations ‒ and slashed the minimum monthly pay from 751 euros to 586 euros.
GREECE IS REOPENING TOURISM SECTORS IN MAY, SAYS PRIME MINISTER
Greece's Prime Minister Kyriakos Mitsotakis is pictured at Maximos Mansion in Athens, Greece, on Feb. 20, 2023. Mitsotakis announced Friday that the country is raising its minimum wage. (Karahalis/Bloomberg via Getty Images)
Greek salaries are paid out over 14 installments annually, to provide extra at Christmas, Easter and the summer holidays. Averaged over 12 payments, the new gross minimum monthly pay will rise to 910 euros.