European employers join unions in call for growth
On Friday 4 June, a joint delegation of European trade unions and employers met with the President of the European Commission to discuss the impact that cuts in public expenditure across Europe will have on employment. Unions and employers had agreed a joint declaration on the issue, which saw agreement that growth is the only sustainable solution to the problems of the budget deficits caused by the global financial and economic crisis. It is incredibly important that employers were willing to join the ETUC in calling for growth, thus rejecting the prevailing orthodoxy in Governments, the Commission and bodies like the OECD and IMF that cuts are the main priority. On the eve of the meeting, ETUC General Secretary John Monks warned that the current path risks repeating the errors of the 1930s, when co-ordinated cuts in public expenditure around the developed world turned the global recession into a profound depression. AS well as supporting growth and a sustainable industrial strategy, the ETUC is arguing for financial sector re-regulation, fiscal co-ordination and a financial transactions tax.