Long-running strike at Ionian Bank ends

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For the time being at least, there is quiet on the battlefront between the Greek Government and Ionian Bank employees, following the decision in June 1998 by the Ionian Bank's Employees Union to suspend its long-running strike.

On 19 June 1998, the Ionian Bank Employees' Union decided to suspend its 46-day strike (GR9805170F) and employees returned to work on Monday 22 June. The Greek courts had declared the strike illegal four times. In one instance, the Greek General Confederation of Labour (GSEE) was taken to court for having offered the Ionian Bank Employees' Union legal cover by calling two 24-hour strikes itself. It should be noted that this was the first time the GSEE has been taken to court in order to have a strike that it had called declared illegal. Because of the judicial interventions against the strike action at Ionian Bank, the GSEE appealed to the International Labour Organisation (ILO) on 17 June, denouncing the penalisation of the strikes.

The decision to end the strike coincided with the decision of the Commercial Bank general meeting of shareholders to sell a majority stake (51%) in Ionian Bank. The chair of the Ionian Bank Employees' Union announced the end of strike action, calling on employees to greet the bank's customers with their "usual enthusiasm", and to work even harder to make up lost ground. However, he pointed out that in the coming period, the union will bring suits against Commercial Bank management, primarily regarding the validity of the general shareholders' meeting. It will also continue to fight to reverse the decision to sell the bank and to safeguard employees' labour and insurance rights, both politically and in the courts.