A new round of negotiations commences today between the Bank Employers’ Association and the Union of Bank Employees under the auspices of the Ministry of Labor and Social Security. In a statement yesterday, the Minister Andreas Moushiouttas pointed that he is not very optimistic for the outcome of the talks, as the distance that separates the two sides is huge.

The talks concern the renewal of the collective agreement between employers and employees. The talks had reached a deadlock last week amidst claims on both sides that the other was bridging existing agreements and the ‘code of industrial relations.’