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The following article was published in our article directory on October 25, 2010.
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Workers Should not Bear the Consequences of Financial Crisis

Article Category: Business

Author Name: Amanda xzh

Early May of this year, the EU Joint International Monetary Fund (IMF) launched the debt crisis for the Greek 750 billion euros rescue plan and urged EU countries facing financial difficulties to take measures to significantly reduce the fiscal deficit and public debt. Since then, European governments have adopted, including pay cuts, pension cuts, the retirement age, increase value-added tax and other savings products increase measures to address the country has long been troubled by deficits and public debt. However, deficit reduction, while the Government must deal with is - people's anger, demonstrations and strikes.

The tide: the French strike

In order to avoid a sovereign debt crisis, the French government introduced a series of fiscal austerity, one of which is decided to increase the statutory retirement age from 60 to 62 years of age and contribution rate increase, so that retirees receive only part of the pension age of 62, At the same time to receive full pension age from 65 to 67 years.

The move triggered a round after round of protests and strikes.

French trade unions began on Oct. 19 held a new round of strikes led the procession, the current strike intensified. This is also the French retirement system reform bill proposed by the Government after the outbreak of the French sixth wave of mass demonstrations.

The French government said no retreat, will firmly promote reform of the retirement system. French Senate on Oct. 20 pointed out that there are more than 1000 retirement law amendments to be discussed, the target in the 21 pm closure of the debate, vote on the evening of 21. 21, no end if the afternoon discussion, Council will continue discussions into the evening, three days continuously from morning to night meetings 22,23,24.

French unions called for a leader on the 21st next week to continue to hold a "massive" strike action to protest against government plans to reform the retirement system purposes.

"September the Joint Parade"

September 29, from a number of European countries, nearly 10 million people in the EU headquarters in Brussels, Belgium, large-scale demonstrations. These people from different European countries shouted the same slogan: against their own government is implementing the cuts in public expenditure, improve the tax burden of fiscal austerity.

The march organized by the European Trade Union Confederation. European Trade Union Confederation John Monks, Secretary-General said in a speech at the scene, by the bankers and financial speculators of this financial crisis should not be triggered by the workers to bear the consequences. Economic recession and high unemployment, the Government cut spending is the wrong decision, which not only affects economic development, but also undermines the interests of workers.

In the Spanish capital Madrid, dozens of people to participate in trade unions strike, subway, bus and high-speed rail all the outage, Barcelona, part of the demonstrators also clashed with police.

However, the demonstration did not affect the wave of pressure from the EU member states continue to strictly control the government deficit. September 29, the European Union continue to introduce laws requiring the public finances of member governments to implement more stringent supervision, to gradually reduce the ratio of sovereign debt, the deficit is not up to the country, will face a fine of 0.2% GDP. On the same day, the French government announced the 2011 draft budget, plans to cut spending 60 billion euros; Portuguese Prime Minister also announced new austerity measures, including reduction in civil service salaries and increasing taxes.

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