Spanish MEP calls on troika to end austerity programmes following report

An MEP has decried Troika operations as a two-headed monster of austerity programmes and draconian measures, and has recommended the European Commission establish a job recovery plan to guarantee youth employment and restore economies.

In a report presented to the European Parliament yesterday, Spanish MEP Alejandro Cercas said the Troika must call an end to all programmes as soon as possible, saying Ireland, Portugal, Greece and Cyprus were suffering from high levels of unemployment, poverty and emigration. "We're seeing new forms of poverty that are encompassing the middle classes," said Mr Cercas. "People are being deprived of fundamental public services including healthcare and medicine."

New poverty
Mr Cercas said this new poverty can be seen in soaring mortgages, high energy prices, evictions and housing exclusion. His report also notes many people living in countries such as Ireland are working in "precarious conditions" or on part-time contracts, making it difficult for them to live independently from their families and resulting in a loss of innovation, production and growth.

“The Troika programme may have saved economic accounts but it has condemned people to misery, poverty and unemployment,” said Mr Cercas. He has called on the European Parliament to provide support and “sufficient financial resources” to raise social protection standards, support education services and continue the fight against poverty in Troika nations. He also asked that the European commission and council give the same attention to social imbalances as they do to macroeconomic imbalances.