European trades union organisations have given a guarded welcome to a European Commission report ‘For a European Industrial Renaissance’, emphasising a commitment to foster industrial production so that it contributes 20% to Europe’s GDP by 2020.
The unions ETUC and industriAll Europe said the Commission rightly identified industrial high-value added sectors as economic drivers of the future, but says it lacks a convincing plan for financing. They believe the Commission fails to put forward a proposal on how this potential for growth could be translated into job creation.
“The Commission blames low demand and low investment for the lingering crisis but neglects to point out the root of both: the EU’s crisis management policy, with its failure to reregulate the banking system, where austerity is the overriding rule of the day and where increased competitiveness is seen in terms of cutting wages” said ETUC Deputy General Secretary Józef Niemiec.
industriAll Europe General Secretary Ulrich Eckelmann said: “The social dimension in this proposal that should underpin a productive industry and deliver education, training, social security and workers’ participation is barely touched upon. Any so-called recovery would be a jobless recovery and not the jolt required to jumpstart Europe’s economy. A strong legal framework for anticipation and management of economic change is absolutely necessary.”
Copyright Ken Hurst 2014