A bad deal for both Greece and Europe

Date

08 Apr 2010

Speaking in today’s European Parliament special plenary session on the results of the March Summit of EU leaders on the economy, GUE/NGL President Lothar Bisky welcomed that Heads of State "finally managed to agree on a financial safety package for Greece" but regretted that the deal was not done collectively but struck between Merkel and Sarkozy.

Bisky said the package would not deliver stability for Greek citizens but would aim to create incentives for the quickest possible return to international financial markets at risky prices. He deplored that EU Heads of State persist with the failed Stability and Growth pact and pressed European Council President Herman Van Rompuy on the omitted priorities from the Council meeting:

"Why didn't you agree on a ban on the trading in credit derivatives? Why did you indefinitely postpone the genuine tackling of poverty?”

Greek MEP Georgios Toussas said that "the Financial Stability Mechanism and the approval of the Europe 2020 strategy signal a new vicious attack against the working class in the years to come. The workers are responding with their own struggle against the EU and the power of big business.” 

Also from Greece, MEP Nikos Chountis concluded that "with the recent Council decision, the IMF has become policeman of the Eurozone and social groups, illegally, and in contravention of all EU treaties. With that decision the only thing that can happen is the strengthening of the Stability Pact to the detriment of smaller countries and the weakest economies. This is not a mechanism of solidarity, it is one of blackmail and pressure and already other countries, such as Spain and Portugal, are taking measures against working people, driving up unemployment and poverty without providing any way out of this crisis. Social dumping has become the only instrument of competition in the EU - this is far from a Europe of solidarity and social cohesion."

Brussels, 7 April 2010

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