Summit proposals represent enshrining austerity in the EU

Socialist Party / United Left Alliance MEP Paul Murphy, today has slammed the latest proposal from President Sarkozy and German Chancellor Merkel to impose fiscal control over member states budgetary policies.

Under the cover of a worsening crisis created by the speculators and bankers and which took shape on their watch, Merkel, Sarkozy and a barely concealed camarilla of technocrats and bankers are seeking to enshrine savage austerity in the treaties of the EU. The differences of approach between Merkozy and President of the European Council, Herman Van Rompuy, purely relate to how this enshrining can be done skilfully with Van Rompuy putting forward a legalistic approach in the hope of avoiding a referendum.

This is part of the process which has seen financial coups carried out in Italy and Greece, with governments of bankers imposed to implement policies in favour of the bankers. People must be given a say through a referendum on the vital changes that are now being discussed.”

Speaking about the prospect of a deal at tonight and tomorrow’s summit, Mr Murphy said:

The fundamental contradictions within the eurozone are now violently expressing themselves with this crisis. It is probable that another deal will be cobbled together that may provide some respite. But just like the previous ‘comprehensive agreements’, the respite will prove to be temporary. Any deal based on austerity and which bows before the greed of the bond markets is simply inviting future catastrophe as the economic crisis across Europe will deepen.

The dictatorship of the markets must be broken. The peoples of Europe must refuse to pay for the gambling debts of the speculators. The Europe of the millionaires has failed, we now need to struggle for a Europe of the millions, a socialist Europe, where the vast resources could be democratically planned to put people back to work and redevelop the economies based on people’s needs not the profits of the rich.