Austerity forever

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The European Union’s new model of economic governance, including the Euro Pact, is a model of prolonged austerity, according to a new publication from Corporate Europe Observatory (CEO).  The report, Austerity Forever, argues that the EU’s response to the economic crisis is setting member states on course towards a model of permanent austerity, including widespread attacks on social rights. To prevent any resistance, the model being put forward by the EU aims at minimising or even totally getting rid of democratic interference. This is clear from an overview of the legislative initiatives which have been adopted since the eurocrisis began, or which are expected to be adopted imminently.