Central bankers and finance ministers worked hard to put pressure on Greece to cut its public deficit to set an example to other countries and strengthen their “case” against prudent government leaders which do not see an urgent need for very early exit (= cut public spending) strategies.
To read the ETUC economic discussion paper:
The ETUC has called for public spending to be maintained and that governments should not be looking for exit strategies until it is clear that a recovery is really underway. The ETUC was putting forward its arguments at the Macroeconomic Dialogue where it meets with the European employers, European Central Bank, European Commission and Council of Ministers. The Confederation also warned that pay cuts would not help the economic recovery and the more labour flexibility and precarious employment would not be a long-term solution to the crisis. [Read more at > ETUC (EN)->http://www.etuc.org/a
