Troika Watch campaign seeks Irish experiences

Thursday 3 October 2013

Trade unions from crisis countries launched Troika Watch to bring you real workers’ life- stories of austerity

In voicing their opposition to austerity, UNI Europa together with member organisations from Cyprus, Greece, Ireland, Italy, Portugal, and Spain launched Troika Watch.

The Troika Watch Facebook page acts as the hub of the campaign and has attracted more than 3,500 likes thus far. Troika Watch sheds light on the real impact of austerity measures on individual workers’ lives. The aim is to de-legitimise the Troika, and to convey the truth about the harshness of the imposed measures.

The message is clear: Austerity and the Troika do not work: think again!

In response to the global financial crisis and ensuing euro area crisis, a task force comprising staff from the European Commission (EC), the European Central Bank (ECB), and the International Monetary Fund (IMF) was set up. It is referred to as the ‘Troika’. It claims to engage in policy discussions with national authorities but gives recommendations that governments in the crisis countries cannot refuse.

Across crisis countries, governments and Troika officials implement austerity measures that do not lead to recovery. Quite the opposite, the imposed economic straightjackets result in drops of purchasing power, reductions of wages, credit access becomes quasi-impossible, and the vitality needed for recovery is impeded. Troika imposed measures have exacerbated and overhauled workers’ rights and industrial relations systems. The financial, economic, political, and social crises have sadly become humanitarian in nature. Troika Watch brings an assessment of these policies, their ill-effects on the economy, on labour relations, and on services workers.

Common developments are identified throughout crisis countries:

• Dramatic increase of unemployment in public and private sectors and extremely high youth unemployment disproportionately affecting women;
• High numbers of skilled workers, particularly young workers, are emigrating in search of better employment prospects;
• Departure from the country of origin has demographic implications and represents a significant generational loss of the educational and training investments;
• Crisis affected countries report significant increases in the incidence of poverty (both after social transfers and in-work poverty) due to the significant cuts and reductions in wages, social benefits, public spending, and higher stringency in the conditionality for social assistance benefits.
• Trade union collective bargaining capacity in the crisis countries is impeded with respective governments and Troika officials refusing to assume responsibility for the open attacks on trade unions and worker’s rights.

Your input is sought to render the ineffectiveness of Troika measures public. This is a timely task as Europe is faced by an unprecedented crisis with dramatic consequences for its industrial relations. Troika Watch adds to the enduring Europe-wide protests against the promoted neo-liberal and austerity policy agenda. It is high time to show to the rest of Europe what Troika policies really mean. EU leaders, Troika officials and national governments must see the light that austerity does not work.

Join the Campaign against austerity and tell us about your experience with the crisis: AUSTERITY DOES NOT WORK – END AUSTERITY NOW!

Go to the Troika Watch Facebook page and share your story now or email dimitris.theodorakis@uniglobalunion.org.

To see some of the stories from workers in other austerity laden countries, please click here.