Brussels, 03/07/2012 (Agence Europe) - Constructive for some, lily-livered for others - the results of the European Council of 28 and 29 June were not met with a unanimous response from social partners. Although BusinessEurope, the organisation representing European business leaders, considers that measures adopted allow “confidence and growth in Europe” to be increased, the European Trade Union Confederation (ETUC) does not share the same optimism, believing that the measures will not kick-start the economy or bring down unemployment.
Response from employers. The results of the last European Council (see EUROPE 10645), which were somewhat unexpected, did not only create a surge on European stock exchanges but were also met with pleasure by BusinessEurope. “Save the euro” by allowing the European Stability Mechanism (ESM) to lend to the banks without go-betweens - that was their main demand (see EUROPE 10642). Today, they have just that. In the same way, European Council endorsement of a compromise on the EU unitary patent is, the business lobby points out, “a key to boosting Europe's innovation”, although the wait has been long with several decades of wrangling. Most wishes have been fulfilled. All that remains is to “put it into practice”, said Philippe de Buck, Director General of BusinessEurope.
Response from workers' trade unions. “Several measures to provide a breathing space” - that is how Bernadette Ségol, ETUC General Secretary, described the results of the summit. Spain and Italy will naturally gain a breathing space now that pressure on their debts has abated. But the measures that make up the growth and employment pact, bringing with them a package of €120 billion, are not, the ETUC states, a “light in the dark”, as Danish Prime Minister Helle-Thorning Schmidt put it speaking on 29 June. The reason for this is that “the growth pact does not really offer anything new”, as “other than an increase in the European Investment Bank's capital (EIB), all that is foreseen is an improved use of the European funds and the implementation of existing programmes”, said Ségol. At the end of the day, she said, “whilst the banks might be saved, we see nothing that will safeguard wages, social protection and public services”. (JK/transl.jl)