Demonstrators are preparing to take to the streets of Brussels to express their discontent with new austerity measures planned to be adopted by the 27 countries of the European Union, the Associated Press reports. If the new rules come into force, the states seeking to get out of the crisis will lose the opportunity to allocate money for this purpose. Such a decision will lead to job cuts, lower wages and reduced public services.
Thousands of Europeans will flood the streets of Brussels to protest new austerity measures in EU countries, the Associated Press reported.
Finance ministers from the bloc’s countries have been negotiating for months to reform EU rules. The so-called “Stability and Growth Pact” would limit the ability of countries seeking to spend their way out of the crisis and force them to start saving heavily. Difficult relations between Berlin and Paris have so far prevented the pact from being accepted.
The European Trade Union Confederation says that if the new rules actually start to work, “14 member states will be forced to cut a total of 45 billion euros from their budgets next year alone.” Such cuts could be fatal for them.
Austerity will also affect society. “It will lead to fewer jobs, lower wages, reduced public services and leave most EU member states unable to make the investments needed to meet social and climate goals,” the confederation said.
As the publication notes, this problem only plays into the hands of far-right parties across Europe. More and more people are becoming their political supporters and potential voters in 2024.
Trade unions intend to use the protest action in Brussels to insist on their position and try to prevent investments for social and climate goals from being excluded from the spending cap.
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