European Central Bank staff, angry at planned changes to pension and employment benefits, have called their first ever strike on June 3, the day of the bank's next interest rate decision. The walkout will see disgruntled workers gather around the giant neon euro sign outside the ECB's Frankfurt headquarters for a 1-1/2 hour protest.
They also plan to block nearby roads. The International and European Public Services Organisation (Ipso), the staff trade union organising the protest, says the already-decided-upon changes could reduce staff benefits by as much as 15 percent.
They include forcing staff to make bigger pension contributions and a reduction of incentives for earlier retirement. Ipso says it is also angry about the general lack of influence staff have in pay and benefit discussions.
"The aim (of the strike) is full grandfathering (or equivalent value) for all our members and their dependants concerning their pension entitlements; ie no change to the pension scheme as it is laid down in the Conditions of Employment as they were adopted by the ECB at its inception," Ipso said in a recent letter to the ECB's Executive Board.
The strike would be the first in the ECB's 10-year history. Protesting staff plan to down tools from 1400 GMT, just as the bank's top policymakers are wrapping up their June rate policy meeting. In e-mailed comments, the ECB said staff had been consulted throughout the two-year decision-making process and that some of their suggestions had been taken on board. It argues the changes are necessary to make the pension scheme viable long term and prevent major funding gaps opening up.
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