Wednesday, May 27, 2009

The ECB will hold the first strike in its history

Employees of the European Central Bank in early June, will conduct the first financial institution in the history of a strike in protest against planned changes in the pension system of the ECB. This writes the newspaper The Financial Times.

Half a protest will be held June 3. By the union called a strike of International and European Public Services Organisation (Ipso), which includes 460 of the 1500 ECB staff.

Discontent of the ECB led the reorganization of the pension system, limiting the ability of staff to retire before age 65. Changes have also occurred in the rules for calculating benefits, because of what their size, according to President Ipso Petty, Adrian (Adrian Petty), could be reduced by an average of 15 percent. In addition, the main representatives of the union claim is that management of the ECB did not discuss with the employees of the reorganization.

In turn, the leadership of the ECB stressed that the possible changes discussed in the past two years and are necessary in the context of current economic conditions.

The Financial Times notes that a strike at the ECB will be the first among all major central banks. Thus, since the inception of the union at the Bank of England in 1975, these protests did not hold a financial institution. Representatives of the U.S. Federal Reserve, created in 1913, was not able to recall the strike in its history.

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