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Austerity forever

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

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.

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Corporate Europe Observatory shows how the past ten years of financial lobbying have left us vulnerable to future crises and costly bailouts. Despite their responsibility for the 2008 crash, the financial sector has successfully avoided major reform in the decade since - and has shaped new legislation with big loopholes and conditions similar to those that created the crash in the first place.

Ten years since the crisis - here is our wrap up of the financial lobby's role in causing the crisis and how they have since continued to fight back against people's demands for effective rules on financial markets.

Pressure has  been mounting on the European Central Bank over its purchases of certain corporate bonds, but new research shows no change. In its mission to stimulate the economy, it is still purchasing climate-harming bonds.

CEO presents some first reflections on the UK's vote for Brexit.

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