The PES President was speaking as the Finance Ministers clinched a deal pledging a fund of 440 billion Euros to bolster the Euro, in addition to a 60 billion Euros stabilization fund.
“We have consistently and vocally called for a crisis response that is based on collective economic co-ordination. Tonight our way has been vindicated”.
Mr. Rasmussen continued; “Why however do the Conservatives insist on Spanish and Portuguese public budget cuts? Spain has already been asked by the Council to cut its deficit by €15bn a year until 2013, which will cost 3.5% of growth over the next three years. How many jobs must be lost before they learn their lesson?”
“The Conservative wish is that the European Union continues to forge a lonely path of austerity, while the US, Japan, and China continues to provide support for recoveries based on jobs and genuine growth”.
Commission President Barroso, had called on Friday for “countries to take the necessary measures to accelerate consolidation of public finances”.
Mr. Rasmussen repeated his warning that; “this would do major harm to any possibility recovery that would allow for jobs and growth”.
PES President's articles published in mainstream newspapers:
- Guardian, UK
- Libération, France
- Ta Nea, Greece
For further information please contact Brian Synnott on +32 474 98 96 75 (brian.synnott@pes.org)
