Thursday, April 4, 2013

Bank Workers Strike in the Midst of  Long Delays for Bank Transactions

Bank workers went on strike at 12:30 today as bank transcations, some pending from before the closure almost three weeks ago, have still not been completed. Many people have not yet received their March salaries and business transactions are on hold as banks state that a large backlog of transactions has caused delays.

However, customers of Laiki, now under administration, noticed that Laiki was able to add quarterly interest on loans and overdrafts the day the banks re-opened. 

The bank workers union, ETYK, called the strike over concern for the future of the employees of Bank of Cyprus and Laiki, particularily with respect to lay-offs and pension funds. 

The banks in Cyprus are open to the public for notoriously short hours, typically locking their doors at 1:30.


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