Greek Labour Law is among the most workforce-protective ones in Europe, if not internationally. The Greek Constitution already proclaims panegyrically that “labour is a right”, thus giving the general guidelines for the State’s action and position.
Greek Securities Legislation traditionally divides the most common types of securities into the following three categories: securities to the bearer, securities payable to order and nominal securities.
Ministerial Decrees Y6a/776/23.6.1993 “on the harmonisation of the Greek legislation to the relevant legislation of the European Community regarding the classification of medicinal products for human use, their labelling and package leaflets, as well as of their advertising” (Official Gazette B 536/1993), A6/10983/84 “on medical information
about medicines by pharmaceutical companies” (Official Gazette B 37/1985), Y6a/22261/8.3.2002 “on the advertising of medicinal products that may be given without prescription” (Official Gazette B 284/2002) are the dominant legal instruments governing the subject today, in combination with Legislative Decree 96/1973 “on the trading of pharmaceutical and cosmetic products” (Official Gazette Α 172/1973) and Law 1316/1983 “on the establishment, organisation and competence of the National Organisation for Medicines, the National Pharmaceutical Industry, the State Pharmaceutical Warehouse and other provisions” (Official Gazette A 3/1983).
Greece, embraced by the Mediterranean Sea, lies in the extreme southeast of Europe and has an area of 132.000 square kilometers (51.000 square miles), of which approximately 20% is made up of islands. The country borders with Albania, Bulgaria and Skopje (FYROM) to the north, Turkey to the east and is embraced by the Aegean Sea, the Mediterranean Sea (Libyan Sea) and the Ionian Sea.
The concept of employee share participation schemes was first introduces into Greek legislation some ten years ago and practice of operating such schemes is not widespread. In the current legal context, many issues concerning the grant of shares from Greek subsidiary companies of foreign parent companies based abroad to their Greek employees through a Stock Option plan is regulated. However, taking into consideration that Greek company and tax legislation governing this institution are at fairly early stage, a number of practical issues cannot be addressed in this legal analysis in a firm and authoritative manner.