Outrage over salary increases for public corporation heads while a bankrupt Greece mourns fire victims

July 27, 2018
Written by E.Tsiliopoulos

An attached amendment in the draft Treasury bill on "Preventing and Suppressing Money Laundering", tabled in Parliament gives increases of up to 60% to executive salaries of specific public ultilities and corporations supervised by the Privatization Superfund, has caused outrage, on the third day of national mourning for the dozens of victims of fires in Attica.

According to the amendment, the Presidents, Managing Directors and Deputy Directors of Public Enterprises and their Subsidiaries, the shares of which have been transferred to the Greek State, Holding and Property Company, the well-known Privatization Superfund, and which either employ more than 3,000 persons or has a turnover of more than € 100 million are now exempted from the current salary ceiling of EUR 4,631 (Secretary General's salary) .

According to the amendment, the salaries and general additional salaries, emoluments and allowances of these persons will be determined by a joint ministerial decision and in any case may not exceed 90% of the monthly salaries and allowances of the President of the Supreme Court.

As the salary of the President of the Supreme Court amounts to € 8,314.56, 90% is equivalent to a salary of € 7,483.10. With this provision, the Finance Ministry increases the remuneration of these executives by 60%.

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