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17 September 2013, Auditorium, International Trade Union House, Bd du Roi Albert II 5, 1210 Brussels: 16h-18h

What can labor do to resolve the austerity crisis in Europe?

ETUI Conference cycle : The crisis and inequality

Guest speaker: Professor Richard Freeman, Herbert Ascherman Chair in Economics at Harvard University, Faculty co-Director of the Labor and Worklife Program at the Harvard Law School and Research Associate at the National Bureau of Economic Research (NBER)

Briefing: The economic crisis in Europe cannot be cured by austerity or finance operating as usual. Troika loans to pay back banks (and speculators who bought bonds) while forcing reductions in government spending do not enable an economy to grow. Equity or loans for productive investment are necessary to save high unemployment European economies from a decade or more of disaster. There are three options to the orthodox alternatives: sovereign debt restructuring; collapse of the Euro-zone; and a ‘Marshall style plan’ of equity or loans for productive investment of a magnitude to set off sustaining growth. Professor Freeman will discuss the potential for private sector social partners to initiate an equity/loan plan in which workers accept wage cuts in return for shares in profits and in which pension funds and other non-banking financial institutions invest in the small and medium firms likely to prosper most in a recovery.

Comments: Bernadette Ségol, General Secretary ETUC

Moderator: Philippe Pochet, General Director ETUI

To register for this event: Ljuba Radman (lradman@etui.org)

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