Greece Tries Out a Unique Experiment: A Limited Six-Day Workweek to Boost Economy and Reduce Tax Evasion

In an effort to boost its economy and reduce tax evasion, Greece has implemented a limited six-day workweek this month. Starting in July, some 24-hour industries in Greece may allow employees to choose to work up to 48 hours per week instead of a maximum of 40, with workers receiving an extra 40% in overtime pay if they exceed the 40-hour threshold.

This change goes against trends in some other economies, such as Europe and the United States, that are considering shorter workweeks. Vermont Sen. Bernie Sanders proposed legislation this year to define a workweek as 32 hours under the Fair Labor Standards Act. Additionally, in a recent survey of American CEOs, 30% said they were exploring new work schedule shifts like a four-day or 4.5-day workweek.

Greek Prime Minister Kyriakos Mitsotakis sees this change as “growth-oriented” and hopes it will stimulate economic growth and reduce tax evasion resulting from undeclared work. However, it remains to be seen how this change will impact the Greek economy and if other countries will follow suit in adjusting their work schedules.