Cyprus Editorial: Unions back to their old tricks

.

With presidential elections just over six months away, and the public attention focused on the resumption of talks at the Cyprus Conference this week, trade unions are back with their old tricks, demanding pay rises, this time from two leading banks.

 
Union bosses have not yet realised that banks, having gradually recovered from the 2013 meltdown, are still not in full profit mode, a trend that would justify pay rises at all levels, provided they were linked to productivity.
The Co-operative saw the first strike on Tuesday, and more action is to follow at Hellenic on Friday, that happens to be the last day of the month and the busiest for customers and tellers alike.
The buffoons at the bank union Etyk decided to sit on the fence in the case of the strikes at the Co-op, and called for calm, avoiding an all-out conflict, but have taken a more militant approach in the case of Hellenic. Could it be that union bosses were promised bonus shares from the upcoming disposal of the state’s 25% stake in the Co-op, but have nothing tangible to gain from Hellenic, hence the reason for the hard-line approach?
Worse still, the Etyk leadership is now accused that it called the strike at HB, in violation of all collective agreements, an hour before a scheduled meeting with the bank’s management.
The bone of contention at Hellenic is the transfer of staff to the asset management company that will deal with NPLs and bad loans, but who have already received assurances that all their rights will be maintained.
What, in that case, is their grudge? Do they just want to annoy ordinary customers, who are already agitated from the arrogance that seems to have returned to most bank employees in Cyprus? Well, they have succeeded. But if bank employees don’t want to work under their present status and conditions, perhaps they should resign. There are thousands of other people who are desperate for a job and are willing to work, regardless of pay and conditions.