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Low-productivity economy a legacy of adjustment without transformation
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BoG cautiously optimistic on economy and banking sector
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S&P leaves Greece's 'BBB' rating unchanged, hints at slower pace of upgrades
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Housing costs, food prices set limits to impact of tax cuts
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Moody's keeps rating unchanged at 'Baa3' - outlook stable
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Underspend and taxes push primary balance up to Aug 3.77 bln above target
Increase of 11 pct in minimum wage to have knock-on effect in economy
As was widely anticipated, during the cabinet meeting yesterday Alexis Tsipras announced that the minimum wage in Greece will increase for the first time in a decade to 650 euros per month, from 586 euros currently, effective from February 1.
This represents a rise of close to 11 percent, surpassing the upper threshold of the committee of wise men that had recommended a rise between 5 and 10 percent. Given that the process of deciding the appropriate level for the minimum wage, i.e. one that...
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