American Express suspends operation in Greece

From the 16 March, 2009 issue of the business daily Express :

American Express bank decided to proceed to suspension of its operation in Greece. However, this decision does not affect the usage of American Express credit cards. The bank's employees stressed that the withdrawal of American Express from the Greek financial credit system will create a domino of rapid reactions in all sectors of economy. Working trade unions protest intensely; OTOE and GSEE as well as American Express Working Union plan to give a press interview today.

Greek Federation of Bank Employee Unions Announcement

Greek Federation of Bank Employee Unions (OTOE) in its announcement stressed:

"OTOE executive secretariat in its immediate meeting today on American Expresses' decision to withdraw definitely from Greece leading that way the country in unemployment and insecurity:

Calls the government to undertake its responsibilities and to intervene directly and effectively in order:

1. To secure employment for working people that are to loose their jobs
2. To secure the pension rights of the bank's employees and pensioners
3. To apply all the contracts and agreements that have to do with the preservation of the Organization and working rights as well as with the banks' obligations regarding the employees' pension funds.

OTOE considers that the difficult financial conjunction our country faces, the closure of the bank irrespectively of the reasons, will create chain reactions with multiple consequences that will affect not only the banks but also several sectors of economy. These consequences must be avoided by immediate political intervention initiated by the government. OTE also stated that it also wishes to stress American Expresses' serious responsibilities a bank that that chooses to withdraw from a country that it has in fact contributed to its development.