H.7.4 An agreement under clause H.7.2 is only valid if: while Schedule H is in force and is subject to a written agreement between a worker and his employer in accordance with point H.7.2, the following provisions apply to this worker instead of point 12 of the arbitration award until 31 July 2020: on 28 June, the referendum was approved by the Greek Parliament without provisional agreement. The ECB has decided to end its liquidity assistance to Greek banks. Many Greeks continued to withdraw money from their accounts because they feared that capital controls would soon be used. If there is no written record of an employee`s specific service class change agreement, the employee receives overtime rates for all hours outside of his or her normal work model. 12.5 Employers and workers may agree to permanently or for a period of time amend an agreement under paragraph 12.2 with respect to the regular work model, provided that such an agreement is recorded in writing (including by electronic means of communication) prior to the amendment. At a summit in Brussels on 21 July 2011, eurozone heads of state and government agreed to extend repayment periods for Greek loans (Irish and Portuguese) from 7 years to at least 15 years and to reduce interest rates to 3.5%. They also approved an additional aid package of 109 billion euros, which will be finalised at a later summit with specific content.  On 27 October 2011, the heads of state and government of the euro area and the IMF reached an agreement with the banks under which they agreed to a 50% write-down of (part) of Greek debt.    The government defended the rejection of the proposal, while four opposition parties (PASOK, TO POTAMI, KIDISO and New Democracy) opposed the unconstitutionality of the proposed referendum.
They called for Parliament or the President to reject the referendum proposal. Meanwhile, the Eurogroup announced that the second existing bailout agreement would technically expire on 30 June, five days before the referendum.   H.7.9 Part-time work which, immediately prior to 19 May 2020, entered into a written agreement with its employer on a regular hourly basis is entitled to continue to be served under this agreement, unless that agreement is replaced by a new written agreement entered into under Clause H.7.2. If a part-time job accepts such a change, it returns to the normal time model agreed in advance when the H schedule suspends its activity. In June 2017, the media reported that the “debt burden” had not been reduced and that Greece was in danger of becoming insolvent for certain payments.  The International Monetary Fund stated that the country should be able to borrow again “in due course.” At the time, the eurozone granted Greece a new loan of $9.5 billion, $8.5 billion in loans and brief details on possible debt relief with IMF assistance.  On 13 July, the Greek government sent the IMF a memorandum of understanding of 21 commitments, which it promised to meet by June 2018. These included changes to labour law, a plan to limit public sector employment contracts, converting fixed-term contracts into indeterminate contracts, and recalculating pension payments to reduce social security spending.  – Workers can benefit from an unpaid pandemic leave (or more after consultation with their employer) if they are prevented from working: the Eurogroup clarified on 27 June that the bailout plan can only be extended until 30 June if an agreement has been reached before 30 June.