International Stop Austerity day

September 19th – international Stop-Austerity day

Together we celebrate the international stop austerity day.
Our campaign is getting support from 20 different European countries including 100 organizations and many members of the European parliament, national trade unions and scientists.
The goal of the StopAusterity day is to inform about the negative consequences of austerity.


What is it about?
On the international StopAusterity day we stand united and present our solutions. We aim to shift the focus of economic policy back to the welfare of people. Obviously the cutbacks of austerity erode the social safety net and deepen the economic and financial crisis. As of now only the elite profits from the crisis, while the economy is failing and poverty is rising.

While austerity apologists claim that we have lived beyond our means. Their only solutions are cutbacks on public spending from pensions up to unemployment benefits. It is clearly not the right strategy in battling the rising inequality in unregulated financial markets and recession, but reinforces the negative social impacts of the economic and financial crisis.


How to proceed…
Solidarity and cooperation between the European institutions and national governments are the only viable ways to find a way out of the crisis. One small step in the right direction is the so called Juncker fund, a stimulus package that will now, after it has been announced that it will doubled in volume, be close to the dimension of the more successful USA package.

The ECB has to rethink their strategies! They are pumping cheap money into the already bloated financial market instead of using their considerable resources to stimulate the economy on a ground level. To reduce unemployment rates we need to start investing in new technologies, research and innovation as well as public infrastructure.


More information on how to solve this crisis –

coordinating economic policies:
A common economic policy for the European Economic Area. The creation of a European monetary fund is an integral part of this solution.

restructuring the bank system:
Regulating banks and introducing a genuine separation of the business and investment banking sectors. Important: banks must also be able to declare bankruptcy.

introducing Eurobonds:
Euro states issue common bonds for state funding and accept collective liability for them. Various models are up for debate.

regulating financial markets:
Clear rules for financial markets. The aim is to reduce complexity and to create transparency of the products traded.

introducing a financial transaction tax:
Taxing every transaction on a financial market will cut back on short-term and speculative trading.

enforcing distributive justice:
Increasing taxes on companies and the rich, closing up loopholes and eliminating false incentives for more just distribution of means.


The Austrian Chancellor Christian Kern argued in the FAZ that the main goal of the European Union should be prosperity for everybody. Currently only the elites benefit while most citizens are at least indirectly affected by poverty. As long as these conditions do not change, populism and nationalism will grow and endanger the peaceful Europe we built.


Further reading: