No subject

anyone else. We have been experiencing cuts in purchasing power due to the
rising prices of energy and food. But real wage growth in Europe has been
moderate and limited, often lagging behind prices, economic growth and
productivity. Germany has been a striking example since 2000.

This is why we will not be deterred by present circumstances from looking
for a better deal for the working people of Europe. In the 1930s, wages were
cut and reinforced deflation with disastrous consequences. We are now
looking for a boost to growth through lower interest rates and public
investment. We cannot tolerate rising levels of poverty and inequality.

The golden age for the rich should end. Those who have led us into this mess
must pay heavily towards the price of recovery. At the moment, to take one
example, the bill for each UK taxpayer for bank rescues is around £5,500
and rising. The message to those taxpayers and those in other countries
affected must be 'never again'. Our system must be rebalanced towards
financial institutions providing capital for productive investments in
sustainable development and towards greater equality.

The writer is general secretary of the European Trade Union Confederation

Copyright The Financial Times Limited 2008

==============
Fresh Ink is an alternative news service
and sister project of Booksinternationale.com.
Join us! https://booksinternationale.info/mailman/listinfo/freshink
==============
Please forward this post to as many people as you like;  and encourage
recipients to subscribe.  Thank you so much!
==============