Cyprus bank workers plan strike

The union officials said on Wednesday that they have called on bank employees in Nicosia to walk off their jobs at 12:30 p.m. local time (0930 GMT) on Thursday, and gather in a protest march toward the parliament.

The union stated it is “following with great concern the developments on the subject of the troika agreement and that, despite promises made by the government and political leadership, issues that concern the future of bank employees are still pending.”


Pension funds at defunct Laiki Bank and Bank of Cyprus are being threatened under the new bailout terms, ETYK added.

Cypriot President Nicos Anastasiades said last week that every effort would be made to preserve pension funds at the two banks.

This comes as public demonstrations grow over tough austerity measures following an international bailout agreement.

On March 25, Nicosia inked a 10-billion-euro (USD-13-billion) bailout deal, which includes a tax of up to 40 percent on deposits of over 100,000 euros in Cyprus’ two biggest banks, with the “troika” of the European Central Bank, the International Monetary Fund, and the European Union.

Based on the deal, wealthy depositors in Cypriot banks stand to lose up to 60 percent of their savings.

GMA/SS

Source Article from http://www.presstv.ir/detail/2013/04/03/296342/cyprus-bank-workers-plan-strike/

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Cyprus bank workers plan strike

The union officials said on Wednesday that they have called on bank employees in Nicosia to walk off their jobs at 12:30 p.m. local time (0930 GMT) on Thursday, and gather in a protest march toward the parliament.

The union stated it is “following with great concern the developments on the subject of the troika agreement and that, despite promises made by the government and political leadership, issues that concern the future of bank employees are still pending.”


Pension funds at defunct Laiki Bank and Bank of Cyprus are being threatened under the new bailout terms, ETYK added.

Cypriot President Nicos Anastasiades said last week that every effort would be made to preserve pension funds at the two banks.

This comes as public demonstrations grow over tough austerity measures following an international bailout agreement.

On March 25, Nicosia inked a 10-billion-euro (USD-13-billion) bailout deal, which includes a tax of up to 40 percent on deposits of over 100,000 euros in Cyprus’ two biggest banks, with the “troika” of the European Central Bank, the International Monetary Fund, and the European Union.

Based on the deal, wealthy depositors in Cypriot banks stand to lose up to 60 percent of their savings.

GMA/SS

Source Article from http://www.presstv.ir/detail/2013/04/03/296342/cyprus-bank-workers-plan-strike/

You can leave a response, or trackback from your own site.

Leave a Reply

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