The European Commission today announced that it is opening a ‘Excessive Deficit Procedure’ for Belgium, France, Italy, Hungary, Malta, Poland and Slovakia.
Reacting to the announcement, ETUC General Secretary Esther Lynch said:
“Forcing member states to make draconian cuts to public expenditure is a recipe for economic, social and political disaster.
“The obsession with deficit reduction completely misses addressing the challenges Europe is facing with the twin transitions. What Europe needs is social and green investments.
“The lack of transparency around the EU's approach to fiscal policy, in which the Commission secretly hands down the austerity plans to national governments, only serves to erode confidence in the process.
“The European Commission is acting against the priorities of European citizens, which are the fight against poverty, health, protection of jobs and fight against climate change.
“While the US, which has much higher debt and deficit, is investing to support good quality jobs and decarbonise its economy, Europe is reverting back to failed recipes of fiscal tightening."
“It seems no lessons have been learned from the European elections. Austerity is incompatible with a “Europe that protects”.
“A Europe which is seen to raise living standards, not destroy them, is the only kind of Europe that will have the support of working people.”
