Brussels, 05/03/2012 (Agence Europe) - The European Trade Union Confederation (ETUC) reiterates that it is opposed to the new treaty on the budget pact signed on Friday 2 March by 25 countries at the European Council (see EUROPE 10566). “This treaty will impose even greater budgetary austerity in Europe and hamper the recovery in employment. The European trade union deplores the fact that growth and employment are not the focus of detailed commitment in the same way as budgetary rigour”, ETUC explains in a press release.
Bernadette Ségol, Secretary General of ETUC, states: “By adopting this treaty, the European summit has adopted the wrong strategy. Instead of focusing on a plan for the recovery of employment and mechanisms for financial solidarity, the European Union has decided to press on down the path of permanent automatic austerity. This is a losing strategy, because this decision cripples any chance of economic recovery and will stoke social unrest.”
She also points out that the European Council's conclusions insist on the need for growth to create employment. This is a good thing, she agrees, but the resources and policies in support of this objective “are unfortunately not backed up with any precise commitments. Budgetary rigour will strip the effectiveness from the declared objective of growth”, she regretted. (LC/transl.fl)