The prime minister, Mitsotakis, promised recently to increase the minimum wage to €950.
The nationwide strike by workers in the public and private sectors is expected to paralyze Greece as Prime Minister Kyriakos Mitsotakis comes under mounting pressure to address the worsening cost of living crisis.
The unions are striking to demand dignified wages due to increasing consumer costs and growing wealth inequality. As the protest rallies are scheduled in cities around the world, it is predicted that the 24-hour strike will put the country at a standstill.
The industrial action started with employees in the state and private sectors. It is expected to impact the government offices, schools, hospitals, and public transport, including the train services and the island ferries.
Union leaders are accusing the center-right administration of failing to address rising inflation. They argue that the cost of living has increased so much that many are struggling to even survive.
Yannis Panagopoulos, the chairman of the biggest private sector union, GSEE, states that the cost of living is significantly high, but the earnings are so low. The housing cost has risen so high that it has put young people in a tragic position.
GSEE and many other similar labor organizations accused the government was not taking significant action to ensure workers have good living conditions.
Greeks with low incomes make only a minimum wage of less than €900 (£750) per month in the country when retail, telecom, and electricity are among the highest in Europe.
The leftwing opposition has frequently claimed that the less privileged people pay British prices with Bulgarian incomes.
The prime minister, Mitsotakis, promised recently to increase the minimum wage to €950, but he was faced with criticism for not doing it enough in the country where the gap between rich and poor has grown in recent years due to the rising housing costs.
Since Greece has recovered from the debt crisis that nearly forced it to leave the eurozone ten years ago, the general strike is contrary to the economic development of Greece.
Credit rating agencies have praised the fiscal reforms implemented by the Mitsotakis government that met targets and restored the country’s investment grade status.
Greece’s economic growth has also surpassed other EU member states.
The country has a record of having one of the highest growth rates in Europe. EU predicts that the Greek economy will grow by 2.1 percent in 2024, significantly higher than the weak overall growth of 0.8 percent forecasted by the Washinton-based organization for the entire eurozone but slightly less than the 2.3% forecast made by the IMF.
Similarly, unemployment has decreased from a peak of almost 30% to 8.3%, which is the lowest level in 20 years. Record tourism, which generates one in five jobs and more than 20% of GDP, has helped speed up the recovery.
Prime Minister Mitsotakis announced on Monday that Greece will repay €5 billion to bail out loans from the EU and IMF early in 2025 to make the country stay afloat.
The prime minister told the business conference in Athens that he is repaying the loans, which indicates fiscal recovery and the country’s commitment to fiscal discipline and confidence in public finances.
Although the debt-to-GDP ratio in Greece is the highest on the continent, the finance minister claims that the money made by effectively preventing tax fraud would help reduce the burden.
Greece’s recovery from the economic recovery is still a world away since the reality of Greeks reeling from the austerity-driven budget cuts and tax hikes to avoid facing bankruptcy during the crisis.
According to political expert Yannis Koutsomitsis, Greece has a success story, but it is difficult to translate that into tangible benefits for the regular people on the street.
There are so many people struggling to make ends meet, which causes a great deal of anxiety throughout the world. However, polls and perception consistently show that the government has neglected to recognize how serious the situation is.