Treasury says they accepted National Labor Court's arbitration offer

The Treasury on Monday accepted the National Labor Court's offer for arbitration to end the 79-day senior lecturers strike which has left the university semester in danger of cancellation. However, the Finance Ministry said the Senior Lecturers Union (SLU) has declined the court's offer. National Labor Court President Steve Adler on Sunday night issued a compromise proposal to solve the crisis that is likely to lead to the cancellation of the Fall 2007 university semester. According to the proposal, made at a meeting with Treasury officials, lecturers and university presidents, the lecturers will immediately receive partial compensation for salary erosion that has accumulated over the last seven years and an arbitrator will be appointed to determine the rest.