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A new era in the relations between top bankers and lower level bank employees is supposed to have started, following a meeting between the Federation of Greek Bank Employees, the Greek Banking Union and the Association of Co-op banks. The meeting was initiated by Andreas Loverdos – Greece’s Minister for Labor and Social Insurance. Quoting the Minister, there exists a vast gap between bank managers and their employees and they need to reinstate a dialogue on the topics of employment contracts and social insurance in the sector.

As much as three years have gone since the beginning of the conflict between the banking unions and the former head of The Greek National Bank – Takis Arapoglou - and time has come for both parties to review their positions. The veto on the employment relation reforms, requested by workers in the financial institutions, was in the middle of the prolonged dispute between Arapoglou and the unions, together with their demands for increased salaries. In a move to defend bankers’ rights, the Federation of Greek Bank Employees has submitted an appeal to the Arbitration Commission, which has later ruled in favor of the Federation. To counter the decision, the National Bank director has brought both the Federation and the Commission to trial, claiming demurrage.

The indirect dialogue was continued by the Federation’s director – Stavros Koukos – after he issued a public appeal in the organization’s web-site, asking the banks to withdraw their law-suits in goodwill, and offset the pay approved by the Arbitration Commission. Some bank managers have responded, with Agrotiki’s Theodoros Pandelakis saying that there is a need for a common framework to include all parties in the long-delayed dialogue. Such a dialogue would aim at consolidating management and workers on the topics of monthly pay, bonuses, and collective employment contracts.