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Cyprus News Agency: News in English, 06-11-05
CONTENTS
[01] ECONOMY - BANKING SECTOR
[01] ECONOMY - BANKING SECTOR
Government fiscal policy is paying off dividends which are increasingly
becoming more obvious to the people, President Tassos Papadopoulos has
said, as he addressed a huge gathering of bank employees, who met here
Saturday to honour the vanguard of their trade unionists. We are just
months away from achieving our strategic goal to join the Eurozone and
adopt the Euro as our currency in 2008. The role of ETYK (bank
employees trade union) will be decisive in this respect, Papadopoulos
said.
He said international competition and globalization cause changes that
inevitably affect the banking sector, noting that since Cyprus
accession to the European Union in May 2004 a new era has dawned in the
banking industry. Today ETYK is so powerful that it fears nobody except
its own strength, which if exercised wisely and in a responsible manner
it can become very effective, he added.
He called on bank employees to use this power to achieve consensus and
not to impose things. Danger lies in what international norms describe
as arrogant trade unionsim,`` he concluded.
ETYK President Loizos Hadjiloizou outlined the long and at times
difficult road bank trade unionists over the decades had to walk,
saying that the vanguard of this movement in the banking sector paid a
hefty price for their courage to claim better working conditions.
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