EU Commissioner suggests Cyprus to solve banking dispute

European Union Commissioner for the Internal Market and Services Charlie McCreevy said here Wednesday that the Cypriot authorities should solve the dispute between the National Bank of Greece’s subsidiary in Cyprus with the Cyprus Union of Bank Employees (ETYK), noting however that the EU free movement principle should be taken into account.
ETYK has called on its members on strike protesting against the Bank’s administration in Greece decision to move two executive employees in its subsidiary in Cyprus.
McCreevy said that this issue has been brought to the attention of EU Commissioner for Employment, Social Affairs and Equal Opportunities Vladimir Spidla, noting that it is too early for the Commission to take a position on the dispute.
”However I would emphasize to everybody, without taking sides in this particular dispute, that one of the foundational pillars of the EU is the free movement of persons,” McCreevy added.
According to the EU Commissioner, ”the free movement of persons is foundational principle of the EU since its foundation and that is what everybody signed up to in the Union of 27. So therefore this matter should be bored in mind.”
He noted that since this is an issue related to industrial relations, ”it would be better if in Cyprus the Cypriot authorities were to solve their own problems in this regard before it moves much farther.”
Finance minister Michalis Sarris reiterated that the government is concerned by the dispute, noting that a long-term crisis between ETYK and National Bank would be at the expense of all sides concerned. He called on all sides to show good will and compromise and cooperate with the Ministry of Labour and Social Securities with a view to solve the dispute.
”Therefore I believe that with the Ministry of Labour’s good services progress can be achieved in this serious problem,” he added.
Sarris acknowledged the EU free movement principle, noting however that there are some unofficial principles and practices that contradict with the free movement principle.
”We need a gradual adaptation with the EU basic principles,” he concluded