Thread: Greek Dock Workers on Strike

Dockers at Greece's largest ports stopped work on Monday to protest against moves exposing them to foreign competition, as EU and IMF officials discussed more such reforms with Athens as a condition for granting aid.

After bowing to market pressure on Friday to become the first euro zone member to ask for a bailout, Greece braced for tougher austerity steps to climb out of a debt crisis rocking the country and the euro zone.

Greek media reported European Union and International Monetary Fund officials had proposed over a dozen possible steps to slash public sector costs and boost competitiveness. Economists say prices may be 20-30 percent too high.

The first such measure -- allowing non-Greek cruise ships to moor at multiple Greek ports without hiring Greek crews -- was announced last week and prompted Monday's 24-hour strike, which blocked ports and stranded ships.

About 60 dock workers at Piraeus port prevented 870 mostly Spanish passengers on a Maltese-flagged cruise ship, the Zenith, from embarking or disembarking, officials said.

"Lifting the restrictions, as announced, will mean the end of Greek-flagged cruise shipping and the funeral of Greek sailors," said Antonis Dalakogiorgos, head of the Panhellenic Sailors' Union.

Polls show government support is waning as austerity measures take their grip, although Prime Minister George Papandreou still leads in approval ratings. Analysts say the success of measures will hinge on the public's tolerance.

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Papandreou has pledged to slash the budget deficit by four percentage points this year, from last year's 13.6 percent of economic output, the highest in the EU.

But a deeper-than-expected recession and a spike in Greece's borrowing costs is seen forcing more cutbacks to ensure Athens can slow the growth of its 300 billion euro public debt load.

Questioning whether German concerns about the 45 billion euro aid package could prevent Athens from refinancing debt due in May, markets continued to punish Greek assets, driving bond yields to a new 12-year high.

Economists are also unsure whether the aid can prevent Greece from having to default or restructure its debt down the road. Barclay's Capital wrote in a note it did not see the EU and IMF pushing for that move now, but it could come later.

"Uncertainty remains high," its researchers wrote. "This suggests to us that it is still very risky to hold Greek debt."

Yannis Stournaras, head of the Athens-based Foundation of Economic Research, said the relatively closed economy meant prices for some goods and services were 15 percent higher than the euro zone average. Eliminating the labour restrictions would boost growth and competitiveness by 10 percent or more.

"These profit margins will converge with the euro zone average and in the medium-term produce much higher GDP and productivity," he said.

Loath to stoke public unrest similar to that which caused violent rioting and deaths in the late 1990s Asia crisis, the IMF has taken pains to focus on the social aspect of reforms.

But it is expected to ask Athens to hike the pension age to as high as 67 from an average of around 62, scrap bonuses that account for a large part of payroll costs and target items such as a 1951 law granting pensions to thousands of unwed daughters of retired civil servants and banking and military officials.

Labour Minister Andreas Loverdos said the IMF had asked if Greece would end a system in which all workers receive two extra monthly salaries a year as bonuses, daily Ta Nea reported. "I was asked whether we are thinking of ending the 14th-month salary bonus in the private sector, why not move to just 12-month salaries," he told the daily. He did not specify the government's response.

Greek dockworkers strike as economic reforms loom | Reuters

Striking ferry owners have blocked Greece's largest port as part of a strike to protest government plans to allow vessels from outside the European Union to berth at the country's ports and open up its markets to foreign travelers.

The blockade at the Pireaus port on Monday was the latest in the series of crippling general strikes which have paralyzed the debt-stricken nation.

Austerity measures introduced by the country's Socialist government in its bid to pull Greece "out of the woods" from a soaring budget deficit had prompted unprecedented labor unrest.

According to the striking seamen, the decision to allow in foreign-registered vessels would pose a major threat to jobs depriving them of their livelihood.

The stir resulted in the Panama-registered cruise ship 'Zenith' being denied entry into Pireaus for two hours before being allowed to drop anchor.



Even though Zenith's passengers were allowed to disembark, the protesters vowed not to allow the vessel from sailing to its next 'port of call' in Croatia late on Monday.

The George Papendrou government has been literally fighting with its back to the wall with a huge budget deficit and it has sought a bail-out loan from the EU and the International Monetary Fund to tide over the financial crisis.

Despite the government going on a PR overdrive to convince the general public that the cost-cutting measures including wage freezes, wage-cuts and roll-back of pension benefits were the only way out, this has failed to swing public opinion in its favor.

A reflection of the popular disenchantment with the government was the results of an opinion poll held last week which revealed that a sizable number of participants believe that either the authorities were too slow to react to the crisis or they handled it in a shoddy manner.

Athens, meanwhile, has pinned its hopes on the EU extending its final assistance although there are genuine fears Germany which is not favorably disposed toward the bail-out loan could well play 'spoilsport.'


Striking Seamen Block Greek Port

Stirkes, strikes and more strikes! This seems to be the time of year for dock workers and airline employees to make waves for the traveling public.

Greek financial woes!

Unfortunately, I have NBG stock (not one of my best picks ) so for that and other related reasons I've been following this situation closely.

Strikes, protests, and now an oil shortage! With all of the civil unrest how safe is Greece now?

How will this affect cruisers?

Is Portugal next ... then Spain???

If I were booked I would cancel, doesn't look to safe to me.

My client has been on Voyages to Antiquity's maiden voyage out of Athens since Tuesday. She left here on Monday and it took 24+ hours of being rerouted constantly. I was on the phone with more airlines while she was sitting on the tarmac - So you think you don't need a travel agent?
She finally got there but due to rioting in the streets they just ventured out into the streets today as it seems to be over. I believe the ship finally left port today from what I can gather. She texts me at least twice a day. Here is the trip of a lifetime and she has pictures of burned out cars on the streets of Athens.

Originally Posted by patsea

My client has been on Voyages to Antiquity's maiden voyage out of Athens since Tuesday. She left here on Monday and it took 24+ hours of being rerouted constantly. I was on the phone with more airlines while she was sitting on the tarmac - So you think you don't need a travel agent?
She finally got there but due to rioting in the streets they just ventured out into the streets today as it seems to be over. I believe the ship finally left port today from what I can gather. She texts me at least twice a day. Here is the trip of a lifetime and she has pictures of burned out cars on the streets of Athens.

this is some wild information, Pat. thanks for sharing. Please keep us updated on any additional excitement your client reports in with. I hope the situation clears quickly with a resolution to the violence as well as the struggle/tension itself.

PAT ....

Per my frubal message to you yesterday, thank you for the first hand report from your client.

Having a TA certainly is a must!

Pat, don't leave us hanging! Where is your client now? How are you going to get her home?