Thursday, 27 October 2011

Europe: New laws institutionalise austerity across the EU

Below we publish videos of two speechs given by Paul Murphy MEP in the European Parliament earlier in October on what have been called the ‘six pack’ rules. These new rules give even more power to the un-elected commission and will in effect institutionalise austerity.
This legislation barely got a mention in the media even though it is extremely important and will have a huge affect on the lives of people across Europe. The media was so quiet that President Barrosso referred to the passing of the legislation as a ‘silent revolution’.
These new rules will see the creation of what amounts to a budgetary policeman, who will monitor the national budgets of countries to make sure that they are implementing the austerity which the Commission is demanding. If the national parliament’s budget does not meet the Commission’s targets they can impose heavy sanctions on that country. This will further strengthen the hand of the Commission as it sets the targets. It is the working class, the unemployed and young people who will pay the price for this policy.

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