EU: European Central Bank to experience its first strike

Consultation yes, co management no. The IPSO’s decision was motivated by a decision of the board which, because of the economic crisis and of the need to save money, decided to reduce, as of June 1, the future pensions of the ECB’s employees. IPSO objects to a decision which will lead to unequal treatment between the employees and blames the ECB’s management for not taking its opinion into account. However, the ECB, contacted by Planet Labor, said that IPSO and representatives from the Staff Committee (the ECB’s WC) held almost 27 preparatory meetings on the issue. Therefore, there is no democratic deficit at the bank. “General employment conditions were negotiated with the staff representatives and, since then, we made many changes at the request of these representatives” an ECB spokesman explained, pointing out that IPSO and the management signed, in 2008, an agreement which officially recognizes the presence and legitimacy of the union within the bank. The latter unites almost 40% of the ECB’s staff and demands a more formal framework offering more “co-management” and “co-decision making” for staff representatives.