Greek bank workers strike against privatisation

Greek austerity, cartoon

From daily The Morning Star in Britain:

Greek bank staff strike against state sell-off

Monday 30 July 2012

Workers at Greek bank ATEBank launched rolling 24-hour strikes today to protest against the carve-up of its employer.

The government announced on Friday that it will sell the state-run company in a no-cash transfer to Piraeus Bank and, to sweeten the deal for the privateer even further, will retain the bank‘s weak investments under state control.

Unsurprisingly banking sector shares zoomed up as much as 8.74 per cent on the Athens stock exchange as a result.

The Greek Federation of Bank Employee Unions OTOE went ahead with a 24-hour strike to protest against austerity cuts.

Meanwhile the three parties involved in Greece’s coalition government resumed talks to try to agree on even more cuts demanded by its creditors as a condition for continued bailout financing.

Conservative Prime Minister Antonis Samaras met his junior coalition partners to attempt to persuade them to sign off on a new €11.5 billion (£8.9bn) cuts package for 2013-14.

Germany Is Scared to Throw Greece Out of the Euro: here.

Over 500 trains were cancelled in Spain today as workers staged a 24-hour strike against threats to privatise up to half the country’s railways: here.

The leaders of the three Greek government parties have announced their agreement on further austerity cuts amounting to €11.5 billion: here.

Mark Weisbrot, The Guardian UK: “The [European Central Bank] has always had, and continues to have, the power to end the immediate crisis in the eurozone, but has refused to do so…. [F]or a nefarious political reason: in order to force the weaker economies of Europe to accept a regressive political agenda”: here.

Although most governments and parliaments are on their summer break, a fierce dispute over the future of the euro is raging between the European capitals: here.

Workers in Tunisia have been protesting, and in some places striking, against the privatisation of factories that were nationalised during the revolution: here.

12 thoughts on “Greek bank workers strike against privatisation

  1. Pingback: Greek nazi anti-Afghan refugee violence | Dear Kitty. Some blog

  2. Greek bank staff strike

    On Monday, bank employees staged a 24-hour strike against possible salary cuts, job losses and changes to pension arrangements as a result of a consolidation of the sector following the takeover of state-owned Agricultural Bank of Greece (ATEbank) by Piraeus Bank, the country’s fourth largest lender.

    The strike shut down thousands of branches across the country.

    International lenders are placing pressure on Greece to consolidate the sector before the completion of a €50 billion bank recapitalisation programme, as part of the second tranche of an agreed €174 billion loan.

    Two more sales of loss-making lenders are due. France’s Crédit Agricole is disposing of Emporiki Bank, “while bids for the healthy assets of state-owned Hellenic Postal Savings Bank are being examined by the country’s central banks,” reported the Financial Times.


  3. Pingback: Greek strikes and governmental xenophobia | Dear Kitty. Some blog

  4. Pingback: Monti’s capitalism or democracy in Europe? | Dear Kitty. Some blog

  5. Pingback: Greek strikes, governmental racism, continue | Dear Kitty. Some blog

  6. GREECE: Voters in the second-largest city Thessaloniki have voted overwhelmingly against plans to privatise the city’s water company.

    Organisers said yesterday that 98 per cent of the 218,000 participants opposed plans to sell a 51 per cent stake in the company under the government’s huge privatisation programme.

    The vote was held in Thessaloniki and outlying municipalities on Sunday to coincide with nationwide local and regional elections, but the government insists that the ballot was illegal.


  7. Pingback: New Greek government re-employs sacked media workers | Dear Kitty. Some blog

  8. Pingback: Solidarity with Greek people, Amsterdam, 21 June | Dear Kitty. Some blog

  9. Pingback: German corporations exploiting Greece | Dear Kitty. Some blog

  10. Pingback: European Union demands privatisation, Greek people pay | Dear Kitty. Some blog

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.