The trade union (GENOP) that represents employees at the state-run Public Power Corp. (PPC) on Thursday threatened legal action "to safeguard the PPC employees’ social insurance fund assets, estimated at 11.9 billion euros, which are incorporated into the company assets”, as it announced.
GENOP President Nikos Fotopoulos made the announcement during a press conference, while he also suggested that -- in an effort to avert the company’s further privatisation -- “PPC employees are ready to lend the state the estimated 400 million euros expected to be collected after 17 pct of the company shares are sold”.

The union's leadership is scheduled to meet later on Thursday to decide on the form and date of mobilisations against the planned privatisation. According to proposals, the powerful union will hold 48-hour repeated strikes launched a week before a relevant draft law is submitted to Parliament.

Commenting on the effects the strikes will have on consumers, Fotopoulos said the industrial action is a legal right and there are consequences every time it is exercised. He also maintained that if the PPC privatisation proceeds it will result in skyrocketing electricity bills.

The PPC employees’ trade union also criticised Finance Minister George Papaconstantinou and Public Administration General Inspector Leandros Rakintzis, whos inspectors have concluded that financial support allocated to the GENOP union by PPC's management over previous years was illegal.