Experience from history shows austerity measures can lead to an even deeper crisis. Indeed there seems to be no end to the economic problems in several member states. Unemployment is sky high in many countries, particularly among the youth, social services are deteriorating, and poverty and inequality is on the increase.
Despite the fact than an unregulated financial market was one of the key causes of the crisis, it is Euope’s populations who are being punished. This comprehensive and factful article explains how the Troika rolls back welfare, social rights and even democracy in the course of the crises with its austerity policies and the neoliberal ‘economic governance’ strategy.
The guide has been written by the research and campaign group Corportate European Observatory, which works to expose and challenge the privileged access and influence enjoyed by corporations and their lobby groups in EU policy making.