President warns MEPs about impact of austerity

Written By Unknown on Rabu, 17 April 2013 | 22.40

President Michael D Higgins has delivered a strong warning to MEPs on the dangers of following a policy of austerity without considering the social consequences.

Mr Higgins told the European Parliament that Europe needed to reassert the idealism, intellectual strength and moral courage of its founding fathers.

It was a wide-ranging speech, often academic in tone, but very clearly a critique of the politics of austerity.

President Higgins spoke of the dangers of following economic theories that are indifferent to their social consequences.

Failure to consider other approaches, he said, would risk Europe drifting into a kind of moral and intellectual impotence.

Mr Higgins said Europe faced a serious challenge and spoke of the risk of the economic crisis leading to a crisis of legitimacy for the European Union.

He said Europe could not ignore that its citizens are suffering due to the actions of bodies, such as rating agencies, which are unaccountable.

The President said a first and urgent task must be to get Europe back to sustainable and fulfilling employment.

He was speaking to MEPs as part of Ireland's six-month EU Presidency.


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