Significant progress in the area of ​​structural reforms on the front of strengthening competition is recorded in the latest OECD report on Greece.

According to the updated OECD Product Market Regulation indicator, which measures distortions in competitionGreece recorded the largest improvement among OECD countries over the period 2018-2023.

As noted, the regulatory framework is now close to the OECD average, as a result of significant reforms.

However, as its latest report points out Bank of Greece for the Greek economy there is still significant room to make the regulatory framework of the service sector (especially lawyers) and retail trade more competitive.

In addition, the country should consider improving its mechanisms to assess the impact of new and existing laws and regulations on competition, address its high non-tariff trade barriers, and promote alignment of the governance framework of state-owned enterprises with the key OECD best practices aimed at ensuring a level playing field with private businesses.

Otherwise, on the front of structural reforms, special reference is made in the Cabinet Report to the new bill of Ministry of Labour.

More specifically, on April 11, 2023, the Ministry of Labor and Social Affairs announced the completion of the codification of labor legislation. Thus, the provisions for individual and collective labor law, as well as for the administrative supervision of the labor market, are now included in a single text.

The new labor legislation provides, among other things:

  1. Legalization of work for more than one employer, provided that the maximum employment limit does not exceed 13 hours of work per day for all employers.
  2. New flexible employment contracts. The employer will be able to call the employee for employment whenever he needs him and utilize him at the hours he wishes and the remuneration will be given according to the time of employment with the legal daily or hourly wage.
  3. Possibility of six-day work with an increased daily wage of 40% on the weekend.
  4. Increasing the fine for violations of undeclared work.
  5. Calculation of in-house training as paid working time.
  6. Establishing a trial period of six months instead of one year for a hired worker.
  7. Simplifying bureaucratic procedures for businesses that choose to implement the digital job card faster than it becomes mandatory in their industry.
  8. Provision that the employee’s unjustified absence from work, for a period longer than five consecutive working days, may be considered as termination of the contract
  9. Criminal liability for strikers who prevent other workers from coming to work.
  10. Creation of a digital platform for finding work in private sector companies operating in Greece, under the brand name “REBRAIN GREECE”. The platform will be aimed at people with highly specialized and specialized professions.

Also, in the new labor law, an amendment was passed to lift the suspension of seniority allowance from 1/1/2024 for private sector workers, without retroactive effect (reinstating the three-year allowances, which had been suspended since 2012).