Corporate Europe Observatory

Exposing the power of corporate lobbying in the EU

Austerity forever

The European Union’s new model of economic governance, including the Euro Pact, is a model of prolonged austerity.

  • Dansk
  • Nederlands
  • English
  • Suomi
  • Français
  • Deutsch
  • Ελληνικά
  • Italiano
  • Bokmål
  • Polski
  • Portuguese
  • Română
  • Slovenščina
  • Español
  • Svenska

The EU’s response to the economic crisis is setting member states on course towards a model of permanent austerity, including widespread attacks on social rights. To prevent any resistance, the model being put forward by the EU aims at minimising or even totally getting rid of democratic interference. This is clear from an overview of the legislative initiatives which have been adopted since the eurocrisis began, or which are expected to be adopted imminently.

 
The ESM, the euro area’s permanent bailout fund set up in 2012, is an international organization that operates behind closed doors, far from public scrutiny. The institution at the heart of EU loans to debt-ridden member states is doing its best to stave off any national influence over the conditions attached to its loans. In addition it is working closely with private consultancies, which appear to have conflicts of interest. However, the ESM is immune to democracy; we have no right to know what it is up to.
On the 15-16th of May, a People's Tribunal Hearing took place in Brussels. Representatives from organisations across Europe gave testimony to an era of financial, economic and social crisis which began in 2008. Since the beginning of the crisis, a transformation has occurred that takes Europe on a track to social regression, violations of social rights and a roll-back of democratic achievements. This verdict outlines the main conclusions of the Tribunal based on the reports and analysis from all speakers.
A Tribunal on EU economic governance and the Troika took place in Brussels on 15-16 May. Eleven witnesses from ten countries in Southern, Eastern and Western Europe gave testimony to the failure of the EU and Troika policies to address the crisis. Indeed, people’s lives and livelihoods have been devastated by the austerity and other policy measures.
Farmers, trade unions and citizens belonging to the D1920 Alliance and Alter Summit tried to shut-down Brussels' biggest corporate lobbying event this morning, where many high-level political leaders were expected, in protest at big business dictating European policy while the voices of citizens are excluded.
There has never been a more important time to ensure that the EU's top decision-makers are free from possible conflicts of interest.
David Cameron's nomination of a revolving door ex-lobbyist, Jonathan Hopkin Hill, as EU commissioner is bad news for Jean-Claude Juncker's newly-stated commitment to lobby transparency.
Do you wonder which businesses are pushing most for the proposed EU-US trade deal TTIP? Or where they come from? And who has most access to EU negotiators? CEO’s at-a-glance info-graphics shine a light on the corporate lobby behind the TTIP talks.
Food is on the table at the negotiations for the EU-US trade deal the Transatlantic Trade and Investment Partnership (TTIP). From a look at their lobbying demands, the agribusiness industry seems to regard the treaty as a perfect weapon to counter existing and future food regulations.

Corporate Europe Forum