German bank workers increase pressure for more pay

18th July 2008, Comments 0 comments

Brief strikes are held in Frankfurt over pay issues in the banking sector

Frankfurt -- Workers in the German banking sector embarked on brief token strikes on Thursday in support of demands for higher pay. In the main banking centre of Frankfurt, some 500 clerks held a demonstration called by services union Verdi.

Verdi, Germany's second-largest union with some 2.2 million members, called the so-called "warning strikes" ahead of a third round of talks with employers set for Tuesday next week in Frankfurt.

"We are demanding a respectable rise. It is urgently necessary," Verdi spokesman Leonhard Regneri said, pointing to inflation in Germany running at well over 3 percent.

Verdi is demanding 8 percent more pay for the more than 250,000 staff employed in the banking sector, with a minimum increase for the lowest paid of 260 euros a month.

Employers have yet to make an offer.


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