This is how they ruined the labor law

Under the doctrine of Shock, government and lenders managed in the most violent way to reverse and destroy the labor relations, and the wage rates to levels that crush the standard of living and humiliate every sense of work and human dignity.

By this way, was achieved internal devaluation since, as we know, could not take place a monetary devaluation, due to Euro.
In logistic terms, this means that the purchasing power of Greek citizens and thus consumption decreased to rates of over 40%. In this way, imports declined, the indices of GDP declined also and hence the debt to GDP.

In short, the "brains" of the troika and the government, through an unprecedented coordinate bankruptcy, showed smaller percentage of debt-to-GDP. This is an unimaginable accounting alchemy, which is worse than the original debt of the country, i.e. before entering the famous mechanism of the IMF and EU

Moreover, on the pretext of increasing competitiveness in the market, failed entrepreneurs with non-performing loans charge their failures in the supposedly high wage rates and managed to make massive layoffs (without paying compensation).
The Annual Report 2014 of the INE / GSEE entitled "The Greek economy and employment", presented all the memorandum laws with which shattered the social fabric.

The report is of particular interest since, including comparative data on the public debt, unemployment and the development of unit labor costs.
The amendments in labor legislation (where in a quick reading becomes clear who benefits) are only part of the picture, which could be reflected more accurately if compared with the changes in tax laws in connection with legal processes regarding debt collection (tax and insurance) from the state and with the launch of legislative interventions to facilitate enforcement and auctions, against debtors from financial institutions.