You are:


Return to news listings

EU fiscal treaty

28 May 2012

TSSA is advocating a NO vote in the upcoming referendum on the EU fiscal treaty.

The main purpose of this Treaty is to commit nations to a so called "balanced budget rule". The European Court of Justice will then get to check whether each nation implements the rule properly and can then penalise them with a fine of up to 0.1% of national output (GDP) if they find that they have not played by the Treaty rules. This ties the hands of any future government implementing economic and socially progressive policies if they fall outside these constraints and effectively asks us to volunteer for an economic straightjacket designed by others.

To stay within the budget requirements that will no doubt follow, most countries will be required to reduce spending, few more so than Ireland. Spending cuts always hit the public sector first and that generally means cuts in public services and/or privatisation.

The current format of the treaty will enshrine austerity in Ireland for decades to come. Austerity is sucking the life out of the economy. This treaty will not help in creating jobs rather it will see a race to the bottom shrinking the domestic economy that will see further mass unemployment, continued emigration, social exclusion and more pressure on families struggling with mortgages and household bills. This all has a direct negative impact for the transport and travel industry that we work in.

TSSA General Secretary Manuel Cortes said :
“The referendum is not, as some have argued, a vote of confidence or otherwise in the Fine Gael-Labour coalition or a vote for or against the EU. It is, however, an opportunity for the people to say NO to never-ending recession, unrelenting unemployment and a continued attack on public services all designed to bail out greedy bankers who will never feel obliged to acknowledge the sacrifice made on their behalf.

“This treaty is not in the interests of working people. The interests of working people are best served by a strategy of growth and jobs. This treaty doses nothing to address the need for growth. The needs of working people should be at the front not behind the interests of the banks, bondholders and property speculators.”

The call for growth and the backlash against austerity is not just limited to Ireland as can be seen in recent elections in Europe. If you are opposed to Austerity vote NO 31 May.





Return to news listings