Greece Takes a Growth-Oriented Approach to the Workweek with Limited Hours

In an effort to stimulate its economy, Greece has recently implemented a limited six-day workweek. This change allows certain industries that operate 24 hours a day to allow employees to work up to 48 hours per week, an increase from the previous maximum of 40 hours. Greek Prime Minister Kyriakos Mitsotakis described the change as “growth-oriented” and aimed at reducing tax evasion caused by undeclared work.

Following the global financial crisis of 2007-2008, Greece faced a sovereign debt crisis that resulted in austerity measures, increased taxes, and eventually bailout loans from the International Monetary Fund and the European Central Bank. In contrast to some other economies in Europe and the United States that have moved towards a shorter workweek, Senator Bernie Sanders of Vermont introduced legislation this year proposing a 32-hour workweek as the new standard defined by the Fair Labor Standards Act. Additionally, 30% of American CEOs surveyed expressed interest in exploring organization-wide work schedule shifts such as a four-day or 4.5-day workweek.

The new workweek policy in Greece is a reflection of efforts to adapt to changing economic conditions and improve overall productivity. As Prime Minister Mitsotakis stated, “We believe that this measure will not only boost economic growth but also create better working conditions for our citizens.” The policy is expected to benefit both employees and employers by increasing productivity and reducing absenteeism rates while providing more time for workers to balance their personal lives with their professional ones.