Brussels, 10/02/2010
The serious problems are immediate. How can monetary union survive as weaker economies come under sustained market pressure? What action will be taken to combat rising unemployment, precarious work and falling living standards and ease social tensions, as countries cut back spending and aim to repay debt? And which President of which body speaks for Europe in the world?
The European Trade Union Confederation (ETUC) has written to the Presidents of the Council, the Commission, the Central Bank, Spanish Presidency and Eurogroup to urge them to consider urgently issuing Eurobonds to take some of the current strains on member states. We are also pressing for a larger European Recovery Plan with an “entry” strategy to get people back to work, especially the young, rather than preparing exit strategies from high level public spending. Urgent effective action on financial regulation – and bankers’ bonuses – is also required.
John Monks, General Secretary of the ETUC, added
“Europe must show now that it can be dynamic and is capable of effective common action. Our Steering Committee last week decided to call on all affiliates to support these points on March 24 – European Action Day – in each national capital unless Europe’s leaders can summon the will to act now on growth, jobs and social justice.”
- ETUC's video: European Council on 11 February 2010: key ETUC demands