EU Austerity Measures Spark Protest in Brussels
European Trade Union Confederation warns of potential job losses, lower wages and hindered investments in social and climate targets due to proposed fiscal policies.
- Thousands of protesters are expected to gather in Brussels to demonstrate against perceived new austerity measures as the European Union discusses overhauling government spending rules.
- The EU's Stability and Growth Pact, which limits debt and deficits for member states, is under review. Current rules stipulate that member states’ total public debt must not exceed 60% of their GDP, and their annual deficit must be kept below 3%.
- According to the EU, the highest rates of government debt to GDP are in Greece (166.5%) and Italy (142.4%), with four other nations also breaking the 100% mark.
- The European Trade Union Confederation (ETUC) claims that under the current draft proposal for reform, 14 member states will be forced to cut a combined 45 billion euros from their budgets next year alone.
- The ETUC warns that the proposed fiscal policies could lead to fewer jobs, lower wages, stretched public services, and hinder most EU member states from making the investments needed to meet the EU’s own social and climate targets.
Washington Post 
Associated Press 
