Labour MEP says austerity cuts produced ‘devastating’ results

After the European Commission and conservative governments had “failed to realise that the austerity measures and public cuts were not the solution towards rectifying the financial storm across the European Union,” Labour MEP Joseph Cushieri has called on the European Union to intervene for greater economic growth and employment opportunities.

“In the wake of the financial crisis surrounding the European Union, many countries imposed austerity measures. These in turn resulted in widespread unemployment increases and lack of economic growth,” Cuschieri said.

Triggered by a widespread recession across the European Union, the financial crisis and the consequent bailouts saw many countries – most notably Greece, Spain and Portugal – impose heavy austerity measures to reduce public spending and offset the increased discrepancy between the country’s expenditure and spending.

“Even though Socialists, European Democrats as well as workers’ unions had flagged the austerity measures as the reason behind increased unemployment and inexistent economic growth, the European Commission and conservative European governments realised this at a much later stage,” Cushcieri said.

Addressing the European plenary, Cushcieri, the head of the Labour Party’s MEP delegation, called on the European Union to carry out an intervention in the sake of the citizens who suffered as a result of the financial crisis.

“The European Union needs to intervene to ensure that those people who are dependent on their wage have greater job opportunities and a better quality of life,” he said in an appeal to the European Union and a European Commission led by European Commissioner leader hopeful Martin Schulz.

“The results of the measures have been devastating as millions of youths and people ended up unemployed and without any hope of improving their life. Precarious employment is still ever-present in Europe,” Cushieri said.

Paying tribute to socialists and democrats, the Labour MEP argued that that while Europe was suffering from substantial austerity measures, Socialist and Democrat MEPs safeguarded the interests of the people.