News / Reports

Bank of Italy employees on strike to protest downsizing

Tuesday, 24 March 2015 9:18 AM [ Last Update: Tuesday, 24 March 2015 9:18 AM ]

Max Civili
Press TV, Rome

On Monday, thousands of workers people working for the Bank of Italy joined a strike organized by several trade unions operating in the banking sector to protest against the institution’s downsizing plan.

The Bank of Italy, which has on its payroll about 7,000 employees, has the duty to issue euro banknotes in Italy and to ensure the compliance with monetary rules domestically.

In 2008, during the presidency of Mario Draghi -the current head of the European Central Bank - the Bank of Italy had already closed down 33 out of its 97 branches across Italy. Now labor unions estimate the bank’s plan to further downsize its workforce, will affect about 350 employees.

Unions argue that the downsizing of the Bank of Italy has gradually weakened the fight against money-laundering nationwide and reduced the quality of financial services involving banknotes mainly in Italy's provincial cities.

Press TV’s website can also be accessed at the following alternate addresses:

www.presstv.co.uk