This tag is associated with 28 posts

Spanish banker gets Euros 56 million pension

Its misery for people in Spain these days. Well, most Spaniards, not the likes of Francisco Luzón, a senior executive at Santander bank. Luzón, it emerged this week, has left the country’s largest bank with a pension of Euros 56 million. His retirement nest egg is quite a bit larger than the Euros 860 odd a month … Continue reading

Belgium goes on general strike

Belgium is on general strike. The mass walkout in the public sector today – followed 90% according unions’ assessment at midday – is over Government plans to cut pensions, part of a Euros 11.3 billion cuts package for 2012 to meet the deficit straightjacket imposed by Eurozone rules. The unions dismiss claims that the country’s pension system … Continue reading

Unusual suspects join Italy’s public sector strike

“Reforms” to the pension’s system passed by the Italian parliament last week will “make doctors work until they are 66 and in some cases beyond, even as night shifts become more and more frequent because of the recruitment freeze in the health service,” says secretary of the medics section of the CGIL trade union confederation Massimo Cozza, … Continue reading

Less “Merkozy”, more social and democratic Europe! says European Left

Resolution of the Council of chairpersons of the Party of the European Left (EL) on tackling the European Economic and Financial Crisis The European summit of the 8-9 December 2011 marks a very dangerous turning point for the future of Europe. Entering into an agreement on the protection of the European Central Bank independence and … Continue reading

Austerity Italy: Monti worse than Berlusconi say communists

“Monti’s polices will bring Italy to default. This budget is worse that one that Berlusconi would have presented,” said Paolo Ferrero, leader of Communist Refoundation at the conclusion of the party’s congress in Naples yesterday. The budget package presented by Italy’s pm Mario Monti is a “hammer blow” for Italians, it is “recessive and doesn’t … Continue reading

Monti’s attack on the Italian pension system is class war

Over the weekend a package of austerity measures were announced by Italian premier Mario Monti to reassure financial markets that have been betting on Italy defaulting. Cuts to pensions featured large – raising the retirement age, eventually up to 70,  extending the minimum 40 year contribution period and ending cost of living indexation, for those … Continue reading

Pampered? Italian pensioners are going hungry

“Generous” is a standard description in media reports of the Italian pension system. Yet, on the eve of new cuts to pensions announced by the Government of Mario Monti, a million elderly eat little or badly for economic reasons, according to new research. These over 65s lack 400 calories daily on average, especially proteins deriving … Continue reading

Italy’s post-Berlusconi hangover

Ordinary Italians may well have woken today with a bit of a headache after last night’s celebrations over the departure of prime minister Berlusconi. The unwelcome after-effects of that prosecco won’t have been attenuated by the news in this morning’s papers of the austerity measures that the Italian parliament passed hours before he threw in … Continue reading

Italy’s pensioners are getting poorer – but ECB wants pensions cut some more

Cuts to Italian pensions are among the demands of the European Central Bank and IMF to restore foreign ‘investor confidence’ in Italy. But new research by Italy’s trade union confederation CGIL has found that: Pensions are on track to have fallen by between 1.3% and 4.3% between 2008 and 2014 with the largest reductions on … Continue reading

Ask the people or go Greek? This is the Italian question

He’s been written off dozens of times but the chances of Berlusconi surviving beyond a parliamentary vote this afternoon (Tuesday) look pretty slim. Italian businesses, who had hoped the billionaire media magnate would unleash market forces, have disserted him because he has presided over a stagnant economy and has focused soley on serving his own … Continue reading

Berlusconi promises ‘hire and fire’ reforms

By Tom Gill After stormy discussions with coalition partners, the Italian premier SIlvio Berlusconi has made a number of promises to Eurozone country leaders that are designed to cut the Italian debt, partly through spending cuts and partly through measures that will supposedly boost growth. These include new attacks on working people: • New legislation … Continue reading

Italian pensioners sacrificed to ‘silence European bankers’

Tom Gill Looks like Italian pensioners will be sacrificed to pay for reckless lending by French banks to Greece. Or to “silence EU bankers”, as Carla Cantone from the CGIL trade union central put it in an interview with l’Unita newspaper today. Cantone said plans apparently hammered out between Italian premier Silvio Berlusconi and Umberto … Continue reading

Italy’s women are getting organised

By Tom Gill On February 13 Italian women took the political establishment by surprise when they staged mass nationwide protests for dignity and respect. A million donne and their male supporters succeeded, for a day, in highlighting how far their country – once with a thriving feminist movement and now with a prime minister facing charges of … Continue reading

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