Saturday, January 21, 2012

Summary Box: Cyprus air traffic controllers (AP)

STRIKE: Air traffic controllers in Cyprus walked off the job for four hours on Wednesday to protest a two-year government worker wage freeze meant to cut the deficit.

WHAT'S GOING ON: The country's latest strike follows last month's package of cost cuts and tax increases. Cyprus is struggling to convince investors that it has a strategy to deal with its problems, which include the financial sector's heavy exposure to Greek debt.

PROTEST: The controllers' union president argued that members have been unfairly grouped with other government workers, because their salaries come from fees airlines pay the government to use airspace.

Source: http://us.rd.yahoo.com/dailynews/rss/business/*http%3A//news.yahoo.com/s/ap/20120118/ap_on_bi_ge/eu_cyprus_financial_crisis_summary_box

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