November 26, 2010
Wages and Bonuses to be tracked in central database
Bloomberg article by Tom Stoukas on the implementation of one of the requirements in the bailout package from the IMF/eurozone: tracking and auditing of wages and bonuses in the Greek public sector. The system being replaced was chaotic and allowed abuse to go unchecked (if not completely unseen).
"...The Finance Ministry estimates that further audits by the authority will save the country 100 million euros ($132.6 million) in overpayments to workers in 2011
...Greece’s Finance Ministry said a new government body in charge of overseeing wages and bonuses of state employees will be fully operational in December.
The Single Payment Authority will oversee a simplified compensation system aimed at capping wage escalation and improving fairness using an electronic database.
“...During an initial audit before full operations start, the authority discovered 65 state employees were being paid twice for the same job, overtime for work that wasn’t completed and bonuses they weren’t entitled to, Kathimerini reported today, without citing anyone."
Kathimerini has more on the general effort to implement reforms, and the volatile political situation in Athens.
Greece's Golden Visa program
