Mass Rally for Better Public Services and Living Conditions
Thousands of demonstrators converged in Brussels to voice their discontent, demanding improved public services, higher wages, and enhanced living conditions. The protest coincided with ongoing EU negotiations on the revamped Stability and Growth Pact, designed to regulate member countries’ debt and deficits. Protesters oppose the austerity measures embedded in the pact, asserting that such policies would lead to job losses, reduced wages, and a decline in public services.
European Trade Union Confederation Warns of Dire Consequences
The European Trade Union Confederation (ETUC), representing 45 million members, sounded the alarm, arguing that the proposed reinstatement of the Stability and Growth Pact could compel 14 member states to slash a collective €45 billion from their budgets in the coming year. ETUC General Secretary Esther Lynch emphasized that reverting to austerity measures “would kill jobs, lower wages, mean even less funding for already over-stretched public services, and all but guarantee another devastating recession.”
Economic Challenges Amidst Pandemic Impact
While Europe experienced a drop in inflation to 2.4% in November, the lowest in over two years, the region’s economy faced challenges, contracting by 0.1% in the July-to-September quarter. The Stability and Growth Pact, which was temporarily suspended during the COVID-19 pandemic, is set to be reactivated in 2024. Current rules mandate member states to maintain public debt below 60% of GDP and an annual deficit under 3%.
Critique of Austerity and Far-Right Concerns
Critics argue that austerity measures, previously attempted and deemed unsuccessful, should not be repeated. The ETUC urged a shift in economic rules to prioritize the well-being of people and the planet over arbitrary limits. With the 2024 European elections approaching and concerns about the rise of the far-right, the ETUC cautioned that proposed fiscal policies could benefit the far-right. The union called for measures excluding investments for social and climate targets from spending limits and the continuation of solidarity mechanisms introduced during the pandemic.
Call for Reforms and Focus on Social and Climate Goals
As tensions rise over the reactivation of the Stability and Growth Pact, protesters advocate for economic policies that prioritize social and climate targets, steering away from stringent spending limits. The union also urges governments to retain pandemic-introduced mechanisms, such as the Recovery and Resilience Facility, designed to breathe new life into virus-affected economies across EU countries.
SOURCE: Ref Image from Winnipegs Free Press
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