Belfast Telegraph

Tuesday 2 September 2014

Cyprus bank workers stage protest

Looming job and benefit cuts in Cyprus have seen food donations flood in for needy families and led to protests by bank workers (AP)

Bank employees in Cyprus are due to walk off the job for two hours and march towards parliament to protest against looming job and benefit cuts being made as part of an international bailout.

Hundreds of employees from across the country are expected to take part in the demonstration.

Bank workers' union ETYK said employee pension funds are not fully protected from a grab on large deposits in Cyprus's two largest lenders, which was a condition of the country's 10 billion euro (£8.5 billion) bailout.

The union also expressed fears of widespread lay-offs as the rescue package that Cyprus agreed with its euro partners and the IMF demanded that the bloated banking sector, flush with billions in foreign deposits, shrink drastically.

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