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During an exchange between top representatives of the Greek Troika and MEPs on the economic and social crisis in Greece, the Troika said that as well as structural changes, wages would have to be further reduced. When questioned by MEPs, the Troika did not deny that Greek wages could be reduced to the levels of countries such as Romania and Bulgaria – around 150 euro per month.



UNI condemns this approach and reiterates that the austerity measures being employed by the Troika are ineffective, misguided and wrong.



In the debate on the Troika's actions in Greece, jointly organised by Parliament's Economic and Monetary Affairs and Employment and Social Affairs committees, the Troika argued that the responsibility for recovery in Greece lay with the Greek authorities and the Greek people. UNI points out again that the crisis was not brought about by the people and that they are the victims who are being forced to make all the sacrifices.



MEPs advocated a socially fairer and more growth-oriented programme and asked about contingency plans. When they asked about a Plan B if the Troika’s reform programme should fail they were told that the Troika was committed to pushing on with Plan A – structural reform and wage cuts – but did admit that the burden needed to be more fairly spread.



UNI joins with the MEPs who called for a more balanced approach which would put an emphasis on growth. Oliver Roethig, UNI Europa's Regional Secretary said that Greece would be one of the main topics for discussion at the upcoming UNI Europa Executive Board Meeting in Madrid on 3-4 May. "The Troika would do well to listen to the warnings of the MEPs and start thinking about a "Plan B" which will promote growth and jobs rather than the race to the bottom."



Watch the debate with IMF deputy director Poul Thomsen, ECB Executive Board Member Jorg Asmussen and (Q and A begins at 18.23’ EU Commissioner Olli Rehn here):



http://www.europarl.europa.eu/ep-live/en/committees/video?event=20120327-1700-COMMITTEE-ECON-ECON-EMPL&category=COMMITTEE&format=wmv