ROME: Thousands of bank employees staged nation-wide protest in Italy to demand the renewal of a national contract.
The workers staged rallies called by bank unions in major cities’ squares on Friday after a decision by the Italian Banking Association (ABI) to annul a national collective bargaining contract.
According to initial estimates by the participating unions, approximately 30,000 bank staff joined the protests across several cities.
At least 7,000 workers marched towards Piazza della Scala, a pedestrian central square in the country’s second-most populous city, Milan.
Workers in other major cities like Rome, Palermo, and Ravenna staged similar demonstrations.
Susanna Camusso, the leader of the Italian General Confederation of Labor (CGIL) and co-organizer of the strike, vowed to continue demonstrations if their demands are not met.
“If ABI doesn’t change its mind, we’ll continue our protests and strikes,” media outlets quoted Camusso as saying.
Meanwhile, Giovanni Paglia, a lawmaker for the left-wing Left Ecology Freedom party and head of the finance committee of Italy’s lower house of parliament, has called for a negotiated settlement.
“Now it’s time for the government to take an active role in bringing ABI to the bargaining table, for a positive conclusion to the dispute,” Paglia said.
For its part, ABI has responded to the strike and demonstrations by expressing its willingness to arrive at a contract renewal. However, the association says that current conditions had lowered profitability and productivity.
“The outlook in the sector is tied to objective economic, financial, and regulatory conditions under which Italian banks must operate. This setting makes stability in the sector the primary objective,” the association said in statement, adding, “This situation of strong pressure on revenues, [and] further increases in labor costs… is not sustainable for the industry. A return to sustainable revenue levels is essential”.
The worsening economic condition has forced EU governments to adopt harsh austerity measures and tough economic reforms, which have triggered incidents of social unrest and massive protests in many European countries.
