From the TUC

A new path for Europe: investment, sustainable growth and quality jobs

05 Feb 2014, by Guest in International

Five years on from the beginning of the crisis, European citizens continue to suffer from economic and social uncertainty. Unemployment, precarious work, inequality and poverty ruin the lives of many. Overcoming the stagnation of our economies and giving people hope and confidence is the most urgent task facing EU leaders.

The EU has the potential to combat the crisis. There is an urgent need to take a new direction to stabilise the economic situation and create quality jobs in a social Europe. The EU must use its strengths to forge a more prosperous, equal and democratic future. We want a New Path for Europe and on Friday 4 April, we will be taking that message onto the streets of Brussels.

The ETUC is firmly opposed to austerity and economic policies geared to reassuring the markets instead of securing social progress. Those policies have delivered a lost decade, with mass unemployment, precarious work and tax injustice.

€1,000 billion was spent to save the financial sector.  €1,000 billion is lost every year in tax evasion and fraud.  It is now time to spend €250 billion for quality jobs and a good future for EU citizens.  A bold investment plan could yield up to 11 million quality new jobs.

These investments are needed to give our economies a new start, based on sustainable growth.  We are proposing an investment target of 2% of EU GDP annually over a ten-year period.  This will have the additional effect of boosting private investment.

Such investments would help build a strong industrial base, innovative research and educational institutions, good public services and guarantee the security of inclusive welfare systems. Investments that have the greatest impact on domestic economic activity should be given priority.

One Response to A new path for Europe: investment, sustainable growth and quality jobs