German Train Strike Ends

Germany’s train drivers have agreed to call off their strike and enter mediation with Deutsche Bahn.
“We are very relieved”, said Deutsche Bahn board member Ulrich Weber.

The strike, which began on Tuesday and spread to passenger services on Wednesday, will end at 7pm local time on Thursday.

The GDL train drivers’ union 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.

The latest strike 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.

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