MEPs for Troika: Huge mistakes brought historic rising in unemployment

MEPs participating in the Employment and Social Committee of the European Parliament launched an attack against the Troika in a report, which was passed by a large majority.
 
The MEPs talk about huge mistakes from Troika that caused an historic rise in unemployment. They note that the countries that signed memoranda are faced with three key implications: dramatic layoffs and rising of unemployment, massive disappearance of SMEs and increase of the population living near the poverty line.
 
The report provides data for the closure of small businesses and increase of unemployment, with emphasis in that of long-term unemployed and young people, which in 2012 exceeded 50% in Greece, 30% in Portugal and 26.5% in Cyprus. They also highlight the significant reduction of the minimum wage, especially in Greece, where it shrank by 22%.
 
Spanish MEP Alejandro Cercas unleashed an attack against Troika, talking about a social tsunami faced by countries that signed a memorandum as in their cases basic conditions and provisions of the International Labour Organisation and the European Social Charter were ignored.
 
"Troika acted like a group of bankers. Now Europe must show that it is not only interested in the financial health of the member-states but also for the daily lives of its citizens," Cercas concluded.