The famous haircut of the Greek state’s bonds in fact it is translated into public cuts. The state had transformed various amounts of money that it administrates into Greek state’s bonds. So when all the big bankers agreed for the celebrated 70% haircut in the Greek bonds (virtual cut in their case since they do not really loose any money) institutes like the public universities (whose budget had been transformed into bonds) got a 70% “cut” in their bank accounts overnight. At the same time various pension funds that had been transformed without the agreement of the unions into bonds were “cut” by 70% as well. One of these funds is the dockworkers fund, who suddenly saw 70% of the money that are paying their entire life (and the dockworkers of the previous generations have paid) to vanish, with direct effect on the amount of pensions.
Dockworkers concentrated this morning in front of the Bank of Greece which administrates these accounts and their union committee asked to meet with the bank’s officers, when their committee was in the bank, police attacked to them without any reason injuring two of them.
The dockworkers in front of the bank of Greece