Employees of Germany's Federal Printing Works have demonstrated in Frankfurt against the outsourcing of a euro note printing contract. Germany's central bank is courting offers from France and the Netherlands.
German euro notes could soon be printed in France and the Netherlands
Around 250 employees of Germany's Federal Printing Works demonstrated in front of Germany's central bank, the Bundesbank, in Frankfurt on Tuesday, protesting a plan to outsource the printing of German euro notes to foreign firms.
According to the German union Verdi, 180 jobs in Berlin are on the line. About 400 jobs at Giesecke & Devrient, a supplier of banknote paper with offices in Munich and Leipzig, are also at risk.
The union said the decision would also jeopardize research and development work worth millions of euros.
The Bundesbank tendered the printing contract for the 2011 bank notes across the European Union, attracting the interest of printers in France and the Netherlands. Giesecke & Devrient has only been awarded a part of the contract.
The Bundesbank has said it's required by German and European law to advertise the tender EU-wide.
The awarding of the contract, initially expected August 2, has been delayed as the Federal Cartel Office investigates the matter. A final decision is expected by the end of the month.
Author: Martin Kuebler (apn/dpa)
Editor: Susan Houlton