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Tag Archives: banking sector

Luxembourg’s Foreign Minister accuses Germany of “euro zone hegemony”

Luxembourg’s foreign minister accused Germany on Tuesday of “striving for hegemony” in the euro zone by telling Cyprus what business model it should pursue. Like Cyprus, Luxembourg has a large financial sector, whose comparatively light-touch tax and regulatory regime has long irked its much bigger neighbors Germany and France. “Germany …

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BoG: Greek Bank Employees to Work More for Less Salary

The first employees’ fortress fell on the altar of Memorandum of Understanding II. Once powerful banking sector union had to bow to the dictates of the times. Employees at the Bank of Greece ‘broke’ the collective bargain and agreed to 17% wages and allowances cuts and increase of the working hours. Bank employees …

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