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Opening Pandora’s box: The sovereign debt crisis and labour market regulation in Greece

Opening Pandora’s box: The sovereign debt crisis and labour market regulation in Greece

Koukiadaki, Aristea and Kretsos, Lefteris (2012) Opening Pandora’s box: The sovereign debt crisis and labour market regulation in Greece. Industrial Law Journal, 41 (3). pp. 276-304. ISSN 0305-9332 (Print), 1464-3669 (Online) (doi:https://doi.org/10.1093/indlaw/dws031)

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Abstract

As a result of the loan agreements that the Greek government has concluded in the past two years with the International Monetary Fund, the European Central Bank and the European Commission, a policy of internal devaluation has been adopted in an effort to avoid a default of the economy and to allow Greece to remain within the Eurozone. The structural reforms undertaken in line with the loan agreements have been based on the premise that labour market regulation in Greece constituted a significant barrier to growth. To that end, essential features of the Greek labour law system have been amended, with significant implications for the role of the state and for the industrial relations actors. The reforms are not distributionally neutral, but aim to liberalise further and to deregulate key parts of the labour market and industrial relations system, and reduce the size and influence of the welfare state. There is growing evidence that the reforms have led to the deterioration of working and living conditions, while failing to deliver growth.

Item Type: Article
Additional Information: [1] First published: September 2012. [2] Published as: Industrial Law Journal, (2012), Vol. 41, (3), pp. 276-304. [3] The Industrial Law Journal is published by Oxford University Press on behalf of The Industrial Law Society. [4] Special issue of the Industrial Law Journal on The Eurozone Crisis and the future of European Labour Law, September 2012, Vol.41, No.3.
Uncontrolled Keywords: Greece, Eurozone crisis, debt crisis, loan agreements, International Monetary Fund, (IMF), European Central Bank, European Commission
Subjects: D History General and Old World > DF Greece
H Social Sciences > HD Industries. Land use. Labor
Faculty / Department / Research Group: Faculty of Business > Work & Employment Research Unit (WERU)
Faculty of Business > Centre for Work and Employment Research (CREW) > Work & Employment Research Unit (WERU)
Related URLs:
Last Modified: 14 Oct 2016 09:23
Selected for GREAT 2016: None
Selected for GREAT 2017: None
Selected for GREAT 2018: None
Selected for GREAT 2019: None
URI: http://gala.gre.ac.uk/id/eprint/9410

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