Another ECB policy vital for a Europe of solidarity and democracy

Two GUE/NGL MEPs are demonstrating later today in Nicosia against the impact of European Central Bank (ECB) policies in Cyprus.

Cypriot MEP Neoklis Sylikiotis and German MEP Fabio De Masi will take part in the march, which was organised by trade unions and social organisations and coincides with the plenary session of the ECB's Governing Council in Cyprus.

MEP Sylikiotis said: “The gains and rights of the Cypriot people have for the last two years been under continuous attack. Working people, the unemployed and low paid, pensioners and young people, single parents and large families, farmers and SMEs – all have been tortured by the catastrophic effects of the memorandum and anti-social austerity policies. The ECB was and is a key component part of this neoliberal, austerity policy, which the European Union is imposing on its people. The Cypriot people should and will defend their labour and social rights, reject the dead-end path of the memorandum, and fight for prosperity, development and social justice. AKEL and GUE/NGL are calling on the people of Cyprus to participate in the pan-Cyprian social mobilisation organised by 18 trade union and social organisations, members of the 'Society reacts and asserts' platform.”

MEP De Masi said: “The ECB forced Cypriot banks to fire-sale their Greek branches for a ridiculous price to Greek banks at the expense of the Cypriot people. In order to finally reach growth and hope for the people of Europe we must overcome these stupid austerity policies. The ECB must not intervene in aspects of wages and social spending but must give direct annual loans of 500 billion euros to kick-start the economy. This could be done with the help of the European Investment Bank. Additionally, monetary policies must be accompanied by an end to tax evasion as well as hefty taxes for the rich and big corporations. The fight for another ECB policy is crucial for a Europe of solidarity and democracy. This fight needs to take place in all EU-countries that were bossed around by the Troika, and the fight will come to the ECB itself in Frankfurt on 18th March on the Blockupy action day.”

GUE/NGL Press Contacts:
Emily Macintosh +32 470 85 05 08
Gay Kavanagh +32 473 84 23 20
European United Left / Nordic Green Left
European Parliamentary Group