Thursday, December 25, 2008

Thousands of Ukrainian workers protest job cuts

Special Report:Global Financial Crisis






KIEV, Dec. 23 (Xinhua) -- More than 5,000 Ukrainian workers marched through central Kiev on Tuesday to protest cuts in jobs and benefits amid the global financial crisis.



Braving snow and carrying banners reading "No to exploitation!" and "Pay is the right of every worker," the protesters demanded higher wages and lower communal service costs. They also wanted a law prohibiting commercial banks from raising interest rates on consumer loans.



The demonstration was organized by the Federation of Ukrainian Trade Unions, with support from two pro-Russian opposition parties-- the Regions Party and the Communists.



Ukraine has been among the countries hardest hit by the global financial crisis as the plunging price of steel, the country's main export, has worsened a credit crunch and triggered a sharp fall in stock prices.



The national currency, the hryvnia, has depreciated nearly 50 percent in the past six months.



Statistics showed Ukraine's economy contracted 14.4 percent in November compared with the same month last year.





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