Thursday, June 2, 2011

OTE workers on strike over privatization










Greece's OTE telecom workers are striking over a plan to sell the state's stake in the company, part of a broader package of privatizations and reforms to reduce debt and get more financial aid.

The government wants to sell its entire 16 percent OTE holding, and has invited Germany's Deutsche Telekom to up its stake in the former state monopoly.
Greece is concluding talks with international creditors on a new austerity package that will allow it to receive later this month the fifth installment of vital bailout loans, worth euro12 billion ($17.3 billion).
The new measures will reportedly include a lower income tax threshold and tax hikes on tobacco, heating fuel and soft drinks.
As part of the 24-hour OTE strike, workers were planning a march through Athens later Thursday.



AP