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"Brain" in the reestablishment of collective bargaining, the preservation and expansion of labor market flexibility, the strengthening of competition in the markets of products and services and the improvement of the climate recommends the IMF to Greece
In anticipation of the special report and badysis of the debt sustainability of our country, at the end of the month, the Fund notes that it there should be no return on collective investment schemes in the euro area. negotiations because this will have an impact on competitiveness, while considering that there should be no reversal of recent labor market reforms
In addition, it calls for the full liberalization of the professions closed with an emphasis on engineers. lawyers and notaries but also aligning the framework of collective redundancies with European practices
In particular, the Fund's recommendations are as follows:
-The maintenance of my including changes in collective bargaining. Changes should be adopted to bring the framework of collective redundancies into line with European best practice
-It is necessary a "significant" acceleration to the opening of closed professions, in priority to the professions that are crucial to the economy
-Implementation of outstanding OECD recommendations to reduce barriers to competition, such as the operation of shops on Sundays [19659002] – Demands implementation of the recently approved changes and the completion of the licensing reform covering the 24 outstanding sectors. In addition, the secondary legislation on environmental activities must be completed
Banks
In Greece, the ratio of nonperforming loans (NPL) to total loans remains at particularly high levels, as well as in Cyprus, Portugal and Italy. This means that for many banks in these regions, growth alone is not enough
Key reforms to reduce the productivity gap
The IMF, without naming Greece, notes that in countries, economies they "disappeared", a sharp increase in productivity, which will exceed nominal wage increases, is necessary to reduce unit labor costs and close the gap in competitiveness
. Exc Having plunged 40% of the inaccurate heights achieved in 2009 the relative wage costs in our country are no longer the highest in the eurozone
Italy has slightly exceeded Greece, is still at the same height as Spain.
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