Since 2008 and the onset of the crisis, what lessons have we learned from this race for quick profit which has corrupted our economies, leading many European countries into recession, where algorithms have replaced traders, performing micro-second transactions, and where a company's share price no longer bears any relation to the actual situation?
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Declaration of the German Federation of Trade Unions (DGB) in favour of Greece
Newsletter of the Various Interests Group of the EESC
The EESC is of the opinion that persisting imbalances as well as the creation of trust and confidence across Europe require more effective and democratic economic governance, notably in the Eurozone. It has become clear that the current system of rules underpinning the EU, and particularly the euro area, has created confusion on the legal, institutional and democratic fronts. A new approach is therefore needed.
The following study gives an overview of the current economic and social situation in Austria, with a particular focus on explaining the Austrian labour relations model and the importance of social partnership and its role in developments since the onset of the global economic crisis in 2008-2009.
Radical labour market reforms were implemented in Germany between 2002 and 2005, reforms that overturned the received idea that Germany was suffering from "reform paralysis". However, the part of these reforms that specifically concerned labour law was very small; their main purpose was to overhaul the social security and activation system for the unemployed and others of working age who are in need of support in line with a "work first" strategy. These reforms were extremely controversial and changed the party-political landscape in Germany.
The EU needs to enhance the growth part of its overall strategy. This must be based on combining what the Member States can do at national level with action at EU level, anchoring these efforts in the Europe 2020 strategy and in our new governance structures.