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German Rail Strike To Be Longer than 5 Days

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Millions of commuters have been hit by delays in Germany after Deutsche Bahn’s train drivers went on strike again.

Two in three long-distance trains and hundreds of commuter services have been cancelled from Wednesday morning.

GDL union leader Claus Weselsky has given no end date for the strike, but said it would “last a little longer” than the previous five-day stoppage.

The GDL has staged a series of strikes to call for a 5% pay rise for 20,000 drivers and a shorter working week.

It is also pushing for the right to negotiate on behalf of other train staff, including conductors and restaurant staff.

Deutsche Bahn, which employs 200,000 people, has offered the drivers a 4.7% pay rise plus a one-off €1,000 (£715; $1,110) payment, but refused to allow GDL to negotiate for other workers.

This is the ninth walkout in just 11 months and follows a five-day train strike earlier in May, which was the longest in Deutsche Bahn’s 21-year history.

An estimated 5.5 million people travel daily by train in Germany.

Economists estimate that the strike earlier this month cost the German economy some €750m (£541m) in lost activity.

“Strikes hurt everyone and cost time and money,” said Ulrich Weber, Deutsche Bahn’s personnel chief.
“The GDL is taking Deutsche Bahn customers hostage for egotistical reasons to get more power,” said Ingo Kramer, president of Germany’s BDA employers’ association.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

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