The Norwegian government said Sunday it will continue to intervene in a stand-off among banks, insurers and their employers to avoid a strike in the country that would put a virtual halt on its financial industry, the SEB reports.
Government officials forced the two sides into negotiation Friday, but both emerged saying the negotiations had been ineffective.
Continued talks among the banks, insurers and employers dissolved on Saturday, leaving the country ensnared in the possibility of its first banking strike in more than 30 years.
Employers responded to employee threats of an expanded strike with the indication that they would lock out 24,000 financial workers, leaving the system at a virtual standstill.
The SEB reports that despite government efforts to avoid a strike/lock-out by continuing to force negotiations, the Norwegian system could expect major disruptions Sunday and Monday.
Labor Minister Bjarne Hanssen announced Monday he would call a special session of Parliament to legislate continued negotiations if necessary.
The dispute began June 1 over negotiation rights regarding pension and insurance benefits.