EU in crisis
Europe already has new rules which lock in privatisation, job cuts, and automatic austerity for member states – via the obscurely named Six-Pack, Two-Pack and Fiscal Compact legislation.
To help it in its plans to tackle the eurocrisis, the European Commission has set up an advisory group, the “Expert Group on debt redemption fund and eurobills”. Both ideas – a debt redemption fund and eurobills – are a move towards debt mutualisation, i.e. spreading the debt burden and borrowing costs away from the eurozone’s worst-hit economies towards the stronger ones.
The EU June summit will focus on the European Commission’s competitiveness agenda which is core component of the plans for a "Genuine Monetary and Economic Union". This competitiveness agenda is geared towards increasing pressure on member states to intensify the competitiveness of their economies.
For the second year running, citizens from around Europe swarmed the German city of Frankfurt, headquarters of the European Central Bank (ECB). Their aim: to 'Blockupy' the ECB on its 15th anniversary. A great success in itself, it's also part of a growing movement across Europe against the austerity measures being undemocratically introduced by the ECB, European Commission and the IMF, collectively known as the Troika.
The Parliamentary Question (PQ) was signed by Nessa Childers (S&D), Sven Giegold and Bas Eickhout (Greens), Sylvie Goulard (ALDE) and Monica Macovei (EPP).
A beginners guide to the EU response to the crisis - on the Troika and the new system of neoliberal economic governance.
File for download below.
Corporate Europe Observatory
Corporate Europe Observatory (CEO) is a research and campaign group working to expose and challenge the privileged access and influence enjoyed by corporations and their lobby groups in EU policy making.