EUROPEAN COUNCIL: THE ETUC WARNS AGAINST THE AUSTERITY MEASURES‏

The European Trade Union Confederation (ETUC) warns the European Council taking place on 17 and 18 June next against the austerity measures adopted by several EU countries. These measures risk killing the growth and having serious social consequences for the European citizens who continue to pay the cost of the crisis.

In a letter addressed to the European Heads of State and Government, John Monks, General Secretary of the ETUC, strongly warned against the austerity measures being applied in most EU countries.

Said John Monks: “The European political leaders have, in our view, given in to panic mainly under the pressure of the financial markets. This panic will hit hard an already weakened economy and carries the risk of a European-wide dive into recession. Such measures of synchronized cuts was the policy followed by the US President Hoover in 1931 with the disastrous consequences that we all know”.

Letter to Heads of State and Government: http://www.etuc.org/IMG/pdf_090610_The_economic_crisis_Next_week_summit-2.pdf