Today's Coming Crisis Movie

Wednesday, September 5, 2012

Six-Day Working Week 'Will Not Help Greece'

A leading Greek economist has told Sky News that a six-day working week - as requested by Greece's creditors - would not help the country strengthen its battered economy.

Yanis Varoufakis, professor of economics at Athens University, said an extended working week "would not make any difference whatsoever" if it was introduced.

His comments come after Greece's creditors urged the government to introduce drastic labour market reforms - including the possibility of working a six-day week.

A leaked letter from the so-called troika, comprising members from the European Commission (EC), European Central Bank (ECB), and International Monetary Fund, requests that the measures be implemented as part of the conditions of a second bailout.

Both the EC and ECB "declined to comment" about the letter. Read More