Addressing the Crisis Through Support Packages and Memoranda

  • Spyros Sakellaropoulos


Greek borrowing was implemented through the adoption of three memoranda and eight packages of measures. These packages included actions such as lowering the minimum wage, decreasing pensions and public sector wages, abolition of the 13th and 14th salaries and the 13th and 14th pensions, increases in value-added tax (VAT), higher indirect taxation, the addition of real estate tax, shifting of the emphasis in employment contracts from the sectoral and national level to the enterprise level, drastic cuts in the number of public sector workers, a sharp increase in the sale of public property to foreign and raising retirement age.


  1. Bogiopoulos N., 2011, ‘It’s capitalism, stupid.’ The culprits for the crisis and the ‘debt’ that will bring them down. A polite answer to the praetorians of the MEMORANDA, Athens: Livanis (in Greek).Google Scholar
  2. Institute of Labour—Greek General Confederation of Labour (INE-GSEE), 2012, The Greek economy and employment. Annual report 2012. Athens: Institute of Labour—Greek General Confederation of Labour (in Greek).Google Scholar
  3. Kazakos A., 2011, “From collective labor agreements to violence of individual employment contracts”, in Crisis and Labour, Athens: ESIEA Cultural Foundation, pp. 20–32 (in Greek).Google Scholar
  4. Kouzis G., 2011a, “The labour landscape in Greece following the Memorandum” in Crisis and Labour, Athens: ESIEA Cultural Foundation, pp. 34–43 (in Greek).Google Scholar
  5. Kouzis G., 2011b, “Labour in the vortex of the economic crisis and the memorandum: ten points”, Outopia no 97, pp. 7–12 (in Greek).Google Scholar
  6. Kouzis G., 2018, “Labour under attack during the period of crisis and austerity”, in Sotiris P. (ed.) Crisis, movement, strategy: the Greek experience, London: Brill, pp. 88–95.Google Scholar
  7. Mitropoulos A., 2013, Society in the gunpoint. The violent internal devaluation, Athens: Livanis (in Greek).Google Scholar

Copyright information

© The Author(s) 2019

Authors and Affiliations

  • Spyros Sakellaropoulos
    • 1
  1. 1.Department of Social PolicyPanteion UniversityAthensGreece

Personalised recommendations