Disappointing that conservative and liberal Euromeps chose to inflict pain rather than invest in growth

(21 May 2010, Brussels) A European Parliament majority of conservatives and liberal politicians voted 20 May to inflict pain on Europe's citizens and workers. It adopted a position of severe fiscal consolidation and austerity programmes squeezing out growth and the perspective of job creation. The vote took place on the report on the long-term sustainability of public finance drafted by MEP Liem HOANG NGOC.

EPSU Deputy General Secretary Jan Willem Goudriaan With their vote for rapid and extreme measures these MEPs underestimate the anger of workers and citizens. We will not forget that it has been the policies to liberalise markets, privatise public banks and services and the failure to impose restrictions on financial market that has caused this crisis. He added: We need investment in growth and jobs, and socially acceptable measures to put us on a long-term path to reduce debts.

Ten thousands of EPSU members are protesting the draconian measures imposed without consultation and negotiations. The risk is high that the austerity will strangle growth, provide less revenues for the state, thus increase debts and start a spiral that will keep Europe in recession for years. Waiting for China, India, Latin American and other countries to pull Europe out will be the wrong way forward.

The final version of the report is available here.

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