News

UNI Europa says workers should not bear brunt of Greek financial crisis



European trade union leaders meeting in Brussels said Friday that Greek workers should not be forced to bear the brunt of the financial crisis brought on by unscrupulous bankers who made a fortune off of currency deals that ballooned Greece’s debt.



Representatives from UNI Europa in Brussels blasted European Union and Greek authorities for their unfair call for working people to bear the brunt of the financial bailout.



They warned that austerity measures have brought short-term glee to the speculators but long-term struggle for Greek workers.



“Who is betting on Greece's failure and making money out of it?” said UNI Europa Regional Secretary Bernadette Ségol. “Why should Greece’s salaried workers have to bear the whole brunt? The financial herd has ganged up on Greece to squeeze any chance of the government putting together a rescue package with a human face.”



Ségol said that the European trade union movement must come together to support the Greek working people and ensure that they are not forced to pay for their leaders’ mistakes. This sentiment was strongly supported by the European trade union leaders.



“The austerity package announced will devastate living standards and take the Greek economy in a further downward spiral,” Ségol warned. “The financial institutions have been unconscionable, taking out massive fees when advising the government to indulge in financial trickery and then speculating against the deal to win massive profits. In this affair, Goldman Sachs has acted like the monstrous Hydra of Greek mythology- cut off one evil head and two sprout up in its place.”



The Greek crisis is just another example of why there must be comprehensive global financial regulation.



“The G20 must step up its attempts to regulate the hedge funds and their business practices,” said UNI Global Union General Secretary Philip Jennings. “Europe and the world have to take a stand against the financial bully boys. We are seeing financial business as usual. Having feasted on Greece, they are lining up their next victim. Greece needs support and decisive European leadership.”



UNI Europa President Frank Bsirske from German union ver.di said that Germany must show real solidarity with fellow EU member state Greece to help find a way for the country to overcome its debt crisis.



“Germany is with Greece,” Bsirske said. “Our president needs to do more than just say ‘we are a friend to Greece.’”

.