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Enshrining austerity will only deepen EU quagmire


09 Dec 2011


Euro & Finance

European United Left / Nordic Green Left President Lothar Bisky today denounced the outcome of negotiations between EU leaders as a dangerous attempt to enforce extreme austerity by all means and defy democratic procedure.

"I deeply deplore that extreme austerity seems to be the only idea our state leaders have come up with in their struggle to solve the crisis. As much as I disagree with this approach, I insist that any measures must be transparently and democratically debated and decided on the basis of the Community method."

"People must have a voice on the drastic changes that are currently under discussion, a transparent and democratic process with the full involvement of Parliament and the peoples of Europe must be followed."

"Enshrining austerity as default economic policy is simply inviting further disaster as it is now so blatantly clear that the neoliberal approach does not work."

"Only comprehensive financial market regulation will lead to real solutions. We urgently need the decoupling of public finances from markets and the decoupling of politics from rating agency assessments. The left will continue its work for a change in policy towards a social, political Union, putting social needs before profit."

GUE/NGL Press Contacts:

David Lundy +32 485 50 58 12

Gay Kavanagh +32 473 84 23 20

European United Left / Nordic Green Left

European Parliamentary Group