Current:Home > BackThousands of protesters gather in Brussels calling for better wages and public services-Angel Dreamer Wealth Society D1 Reviews & Insights
Thousands of protesters gather in Brussels calling for better wages and public services
View Date:2024-12-23 17:09:59
BRUSSELS (AP) — Thousands of protesters gathered Tuesday in the capital of the European Union, calling for better public services, salaries and living conditions.
The protest in downtown Brussels took place during EU negotiations over the new Stability and Growth Pact, which aims to limit debt and deficits for member countries. Nations seeking to spend their way out of a crisis would instead implement a set of economic policies such as budget cuts and tax increases. But critics say the policy, known as austerity, won’t work.
The European Trade Union Confederation, which represents 45 million members, claims the planned reinstatement of the Stability and Growth Pact will force 14 member states to cut a combined 45 billion euros ($49 billion) from their budgets in the next year alone.
ETUC General Secretary Esther Lynch said a return to austerity “would kill jobs, lower wages, mean even less funding for already over-stretched public services and all but guarantee another devastating recession.”
Inflation in Europe dropped more than expected to 2.4% in November, the lowest in over two years, bringing some relief to households severely hit by the economic effects of the coronavirus pandemic and the war in Ukraine. But the economy has stalled this year, even shrinking 0.1% in the July-to-September quarter, according to Eurostat, the 27-nation bloc’s statistics agency.
The Stability and Growth Pact, which has often proved difficult to enforce and has served as a source of tension, was suspended during the COVID-19 pandemic but is set to be reactivated in 2024. Current rules stipulate that member states’ total public debt must not exceed 60% of their gross domestic product, and their annual deficit must be kept below 3%.
According to the latest EU figures, the highest rates of government debt to GDP were in Greece with 166.5%, Italy with 142.4%, and four other nations also breaking the 100% mark.
“Austerity has been tried and it failed. It is time to learn the lessons of the past and ensure the EU’s economic rules put the wellbeing of people and the planet before totally arbitrary limits,” Lynch said.
With 2024 European elections looming and a rise of the far-right across the continent, the ETUC also warned that “the far-right is the main beneficiary of the type of fiscal policies being proposed.”
It called for measures to exclude investments for social and climate targets from spending limits. The union also asked governments to keep in place solidarity mechanism introduced during the coronavirus crisis such as the Recovery and Resilience Facility, a multi-billion-euro (-dollar) plan devised to help EU countries breathe new life into their virus-ravaged economies.
veryGood! (2)
Related
- LSU leads college football Week 11 Misery Index after College Football Playoff hopes go bust
- Does the NFL have a special teams bias when hiring head coaches? History indicates it does
- Bull doge! Dogecoin soars as Trump announces a government efficiency group nicknamed DOGE
- Stop smartphone distractions by creating a focus mode: Video tutorial
- College Football Playoff ranking release: Army, Georgia lead winners and losers
- 'This dude is cool': 'Cross' star Aldis Hodge brings realism to literary detective
- NBA players express concern for ex-player Kyle Singler after social media post
- Mike Tomlin's widely questioned QB switch to Russell Wilson has quieted Steelers' critics
- Travis Kelce's and Patrick Mahomes' Kansas City Houses Burglarized
- The Daily Money: Inflation is still a thing
Ranking
- Francesca Farago Details Health Complications That Led to Emergency C-Section of Twins
- ‘Emilia Pérez’ wouldn’t work without Karla Sofía Gascón. Now, she could make trans history
- Darren Criss on why playing a robot in 'Maybe Happy Ending' makes him want to cry
- Military veteran gets time served for making ricin out of ‘curiosity’
- Travis Kelce's and Patrick Mahomes' Kansas City Houses Burglarized
- 3 Iraqis tortured at Abu Ghraib win $42M judgement against defense contractor
- Man gets a life sentence in the shotgun death of a New Mexico police officer
- US Diplomats Notch a Win on Climate Super Pollutants With Help From the Private Sector
Recommendation
-
Kyle Richards Shares an Amazing Bottega Dupe From Amazon Along With Her Favorite Fall Trends
-
Nevada trial set for ‘Dances with Wolves’ actor in newly-revived sex abuse case
-
Who is Rep. Matt Gaetz, the Florida congressman Donald Trump picked to serve as attorney general?
-
Jessica Simpson's Husband Eric Johnson Steps Out Ringless Amid Split Speculation
-
Suspect in deadly 2023 Atlanta shooting is deemed not competent to stand trial
-
Federal judge orders Oakland airport to stop using ‘San Francisco’ in name amid lawsuit
-
Philadelphia mass transit users face fare hikes of more than 20% and possible service cuts
-
The Latin Grammys are almost here for a 25th anniversary celebration