Thursday, September 30, 2010

workers begin to fight back


Workers across Europe yesterday vented their anger against government spending cuts and tax hikes that unions said would punish the poor. Rallies were called in 13 capital cities. Unions said that 10 million people joined the general strike in Spain. Many small businesses shut their doors in solidarity. Protests against austerity measures have been held in Greece, Italy, the Irish Republic, Portugal, Belgium and Latvia.

Trade unions say EU workers may become the biggest victims of a financial crisis set off by bankers and traders. Many governments across the 27-member bloc have imposed punishing cuts in wages, pensions and employment. Workers in many EU countries are frustrated that they are paying for the mistakes of the banks and the financial sector.

"We didn't cause this crisis. The bill has to be paid by banks, not by workers," The European Trade Union Confederation said.

"Why should the workers have to bear all the costs of this crisis?" asked Kazimierz Grajczarek, a miner from Bielsko-Biala in Poland, who came to Brussels by bus on Tuesday. "They give all the money to the banks and we have to carry the costs."

The cost of bailing out Anglo Irish Bank, at the centre of Ireland's financial crisis, could rise to €34bn (£29.1bn) , the Irish central bank admitted today. The country's finance minister warned that the failure of the nationalised bank would "bring down" Ireland, and warned of further austerity measures. The bailout will take government debt to over 100% of GDP.

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