Brussels, 05/02/2009
For ETUC, interest rates in the euro area should have been brought to near zero months ago and policy makers should now be discussing how to organise the printing of money in order to finance the economy.
Says John Monks, General Secretary of ETUC: ‘The economic situation is alarming and protectionist and nationalist pressures are rising. By postponing action to support the economy, the ECB is playing with fire’.