Bank strike hits Italian euro rollout

 

In Italy the euro rollout is grinding to a halt after bank workers went on strike. Ninety per cent of major high street banks are closed today. The walkout is over allegations of exhaustion from tellers and back office workers. They say the changeover to the euro has been badly handled. Businesses are now sounding the alarm, saying not enough euros are in circulation - five and ten euro notes in particular in short supply. That situation can only get worse - it is expected that by the end of the day up to half of all cash machines will be empty just as Italians go shopping for New Year bargains. The country is still trailing in last place in terms of euro cash transactions - less than 50 per cent of consumers are using the new money, preferring to spend their old lire. And with seven banking unions calling an overtime ban until the start of February the dream of a fully functioning single currency is weeks away.