The World - News from Oct. 20, 1985
Greece’s Socialist government announced a two-year wage freeze on all private sector workers as part of a tough austerity program. Companies or employers violating the freeze will face fines of up to 5% of their yearly profits, a government decree said. Employees in the public sector will continue to receive automatic quarterly wage increases tied to the inflation rate, now 18.5%, but the increases will be smaller than before.
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