Sparked by the proposed sell-off of Ionian Bank, trade unions escalated industrial action in the Greek banking sector in May 1998, expanding both their programme for action and their framework of demands.
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Sparked by the proposed sell-off of Ionian Bank, trade unions escalated industrial action in the Greek banking sector in May 1998, expanding both their programme for action and their framework of demands.
On 12 May 1998, the general council of the Greek Federation of Bank Employee Unions (OTOE) passed by a majority vote important resolutions with regard to an integrated programme of industrial action in the banking sector. This came in response to the Government's decision to proceed with the sale of Ionian Bank (GR9805170F), and to imminent changes in labour relations and workers' social insurance. The OTOE states that it is determined not to accept changes in labour relations concerning flexible working time, abolishment of collective labour agreements or other changes which limit workers' gains or rights. Characteristic of this approach is an announcement by the Union of Employees of the Bank of Greece (SYETE) which stresses that "workers in the National Bank of Greece are not going to agree to any change introducing 'flexible' labour relations or abolishing vested and inalienable social and workers' rights. It appears that, if some people are creating such measures, they have chosen the road of conflict and at the same time the isolation of society." As regards the insurance issue, the OTOE is demanding that the Government immediately begin a dialogue on creating a "unified primary insurance fund" for all bank employees.
In this context, the OTOE general council has decided on a programme of industrial action including rolling nationwide strikes in all banks (public, private and foreign-owned) set to take place from 15 May to 3 June. On 12 May, the Ionian Bank employees' union began an unlimited strike, drawing on resources from its strike fund, with the objective of preventing the sale of the bank. A nationwide general strike was also called by the Greek General Confederation of Labour (GSEE) for 27 May. Apart from strikes, action decided on by the OTOE included:
denouncing the new administration of the Macedonia-Thrace Bank for allegedly creating a strike-breaking apparatus to use against the OTOE strike;
appealing to the EU Competition Committee;
forming a group of legal experts to look into any responsibilities of the administrations of Commercial Bank (the main shareholder in Ionian) and Ionian Bank regarding sale procedures; and
working together with the insurance funds which own shares in Commercial Bank to prevent them from agreeing to sell their block of shares.
Eurofound recommends citing this publication in the following way.
Eurofound (1998), Industrial action escalates in banking sector, article.
