Labor subsidy till mid-October

The state intends to finance Greek enterprises to the tune of at least 820 million euros from national and European resources, to support employment in sectors proven to have been harmed by the coronavirus pandemic.

The law amendment on the "Syn-Ergasia" mechanism was tabled on Friday in Parliament and will be immediately voted into law so that it can apply from June 15 to October 15. Employers will be able to reduce their employees' weekly hours by up to 50%, with the state covering 60% of salary losses. From the start of the measure's application, employers will no longer be able to suspend employees or have them work for less than 50% of their regular work hours as that would serve as a counterincentive for the application of the new mechanism.

The employers that join the Syn-Ergasia system will be able to halve the weekly working hours either for all of their...