Argentina bank workers stage 2-day strike

Argentina bank workers stage 2-day strike

Thu Nov 13, 2014 8:2AM GMT

Bank workers in Argentina have launched a 48-hour-long strike, demanding higher salaries and better job conditions, Press TV reports.

The financial system will go back to normal only on Friday, the walkout having closed up banks, exchange bureaus, and most national financial institutions across the country.

“…the strike was launched because the banks, which are one of the most profitable businesses in this country either ignore us or come up with absurdly inadequate proposals,” said Sergio Palazzo of Bank Workers Union.

The industrial action coincides with the payment period of millions of pensioners and retirees, occasioning widespread anger among Argentineans.

The Association of Bank Workers has also handed over a petition to the authorities, calling for far-reaching financial and tax reforms.

“…It’s not fair to tax our salaries that come from hard work as if they were profits or revenues,” Palazzo noted.

Tens of rallies and demonstrations have also been held countrywide.

The country has been grappling with persistent debt issues, political fragility, and a declining economy.

After failing to come to an agreement with creditors from its previous default in 2001, the country missed necessary bond payments on July 31, triggering announcement of a second default.

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