Greek Labour Minister George Katrougalos speaks during an interview with Reuters at his office at the ministry in Athens, Greece, September 13, 2016. REUTERS/Alkis Konstantinidis
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Greece will tell its creditors it cannot comply with labor reforms demanded by the International Monetary Fund as a condition of its support for the country's third bailout, its labor minister told Reuters in an interview Wednesday. The leftist government considers the IMF's demand as a ban on the right of workers to negotiate wages and conditions on a collective basis. A breakdown with the IMF on the issue could jeopardize its financing of the 86 billion euro ($96 billion) bailout and could undermine overall confidence in the deal.Labor Minister George Katrougalos, speaking a few hours before meeting with the heads of an EU-IMF mission on labor issues, said Athens would fight to revive collective bargaining and described the IMF as "an extreme player". Both the IMF and the EU say an inflexible labor force has helped to make Greece uncompetitive, contributing to its economic malaise.
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