06/12/2010
ETUC urges EU Ministers of finance to consider a new European debt and investment initiative
In a letter to the European Council of Finance Ministers, the ETUC has called on Ministers to open a serious discussion on the transfer of national debt into European debt.
To move this discussion forward, the ETUC has also provided Ministers with a note spelling out a possible policy proposal in which 60% of national debt would be taken out of the grip of speculators, while financing a robust and European investment led recovery. .
Says John Monks, general secretary of the ETUC, “In order to save the single currency from speculation, Europe urgently needs to consider to join financial forces ”.
Letter to the EU Finance ministers: http://www.etuc.org/a/7971
Note ETUC Executive Committee: http://www.etuc.org/a/7968
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