"We need a recovery plan for the victims of the Troika," says Alejandro Cercas

the victims of the Troika, unemployment, Greece, Portugal, Ireland and Cyprus

Under the leadership of S&D Euro MP Alejandro Cercas, the European Parliament's employment and social affairs committee today called for an employment and social recovery plan for the countries under the supervision of the Troika (formed by the International Monetary Fund, the European Central Bank and the European Commission).
 
The committee conducted an in-depth analysis of the social impact of the programmes implemented in Greece, Portugal, Ireland and Cyprus by the Troika.
 
Alejandro Cercas said after the vote:

"These countries have faced a social tsunami. Many of the International Labour Organisation’s conventions and some articles on the European social Charter have been ignored. These countries have faced record job losses, widespread disappearances of small businesses, and increased numbers of people at risk of poverty, especially among children.
 
"The social dimension of Europe has been completely ignored. The troika has acted like a club of bankers. Now, Europe needs to show that it cares not only about the financial health of its member states but also about the day-to-day lives of its citizens. Europe is not only a lenders’ club but a community of values."
 
According to the report, the economic and financial crisis and the adjustment policies have especially affected young people. In 2012, the youth unemployment rate reached over 50% in Greece, over 30% in Portugal and Ireland and 26.4% in Cyprus. This has pushed many young people to leave their home countries to seek a better future.
 
Following this report, the economic and monetary affairs committee will vote another regarding the economic and institutional aspects of role of the Troika led by S&D Euro MP Liem Hoang Ngoc.