Greece is making a bold move to stimulate its economy by implementing a limited six-day workweek. Starting in July, certain 24-hour industries may allow employees to opt for working up to 48 hours per week instead of a maximum of 40. Those who surpass the 40-hour threshold will receive an extra 40% in overtime pay. This shift comes as Prime Minister Kyriakos Mitsotakis has labeled it as “growth-oriented” with the intention of reducing tax evasion stemming from undeclared work.
In contrast to this move, other economies in Europe and the United States have been exploring the possibility of adopting a shorter workweek. Senator Bernie Sanders has proposed legislation to define a workweek as 32 hours, while a significant number of American CEOs are reportedly considering implementing new organization-wide work schedule changes, such as a four-day workweek.
Greece’s shift reflects its efforts to reposition itself in the global marketplace amidst ongoing challenges stemming from the previous financial crisis. The country is determined to stimulate economic growth and reduce tax evasion by encouraging longer work hours for some employees while providing them with additional compensation for their efforts.