Cyprus -Union excluded from the negotiation table -February 01, 2014

The Co-Operative Central Bank (CCB) decided to cut stubborn bank employees’ union ETYK out of negotiations for pay cuts which have already been agreed with other unions. Following an earlier deal, workers at cooperative credit institutions took a 3% cut on salaries across the board. Their unions agreed to additional tiered salary cuts ranging from 8% (for salaries between €1,001 and €1,500) to 25% (salaries between €4,000 and €5,000). But neither agreement applies to employees of the CCB who are all ETYK-members, with which the CCB board has been holding separate talks. ETYK threatened strike measures if the CCB insisted on ‘blackmailing’ its members to accept pay cuts or face redundancy.



For more information, please contact the editor Jan Cremers, Amsterdam Institute for Advanced Labour Studies (AIAS) or the communications officer at the ETUI, Mariya Nikolova For previous issues of the Collective bargaining newsletter please visit You may find further information on the ETUI at, and on the AIAS at

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