PPC union­ists force meet­ing post­pone­ment

Kathimerini English - - Focus -

An­gry work­ers from Greek util­ity Pub­lic Power Cor­po­ra­tion (PPC) yes­ter­day dis­rupted a share­holder meet­ing in­tended to launch the sale of a mi­nor­ity stake in its sub­sidiary power grid ADMIE, a Reuters wit­ness said. Be­tween 40 and 50 mem­bers of staff un­furled a huge ban­ner be­hind the podium of the gen­eral meet­ing which read “PPC is not for sale, it is not to be bro­ken up.” Chair­man Mano­lis Pana­gio­takis post­poned the meet­ing un­til July 11. “We fear that by spin­ning off ADMIE some 5,000 jobs will be lost,” said Gior­gos Adamidis, head of the PPC work­ers’ union. “We will be back.” Yes­ter­day’s in­ci­dent is symp­to­matic of fierce worker re­sis­tance to pri­va­ti­za­tions in Greece, which have fre­quently been put on the back burner be­cause of staff ob­jec­tions or gov­ern­ment re­luc­tance. At yes­ter­day’s meet­ing, the util­ity had planned to start the process to sell part of the ADMIE grid. PPC con­trols al­most 95 per­cent of the Greek re­tail mar­ket. A sale of a stake in the grid is also part of a cred­i­tor-man­dated drive to cut PPC’s dom­i­nance over the lo­cal re­tail mar­ket. same month a year ago af­ter an up­wardly re­vised 1.2 per­cent slide in March, statis­tics ser­vice ELSTAT said yes­ter­day. Re­tail sales were led lower by cos­met­ics, phar­ma­ceu­ti­cals, fu­els, lubri­cants and house­hold ap­pli­ances, the data showed. Data on gross do­mes­tic prod­uct showed weak­ness in Greek con­sumer spend­ing in the first three months of the year, when the econ­omy con­tracted by 0.5 per­cent com­pared to last year’s fi­nal quar­ter. Con­sump­tion de­clined 0.5 per­cent quar­ter-on-quar­ter in Jan­uary-to-March. Tax hikes and cap­i­tal con­trols, im­posed at the end of June last year to stem a flight of de-

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.