Many people still wonder what the Pact of the Euro, new source of outrage from European citizenship. The roads in Spain were filled with protesters June 19. Convened by the movement Rea Democracy Now, Those known popularly as “outraged” gone back to the streets after lifting camps and like the mythical Puerta del Sol. The well-known slogans of “Do not represent us!” corearse have returned to the streets across Spain, but in this case to criticize something very concrete: the Pact of the Euro.

The manifestations of the 19-J were echoed in the social network twitter where thousands of messages launched throughout the day also managed to keep the protest on the information superhighway. This Internet site has become one of the most important social thermometers when studying the impact of news. The bailouts of Greece, Portugal and Ireland have unnerved the EU.

Billions of euros were needed to rescue several members of the European Union, unable to keep its economy healthy. Greece was the first to go and try to be rescued by its European partners. Although a lot of money has been sent to the Hellenic nation, have not yet been solved all their problems and general strikes are repeated again and again.

Portugal and Ireland also needed the help of Europe. Spain has always been suspected of being the next to fall, but so far has not needed to join the list of “rescued”. MEPs have decided that they should act if they want the eurozone economy is weakening.

What is the Covenant of the Euro?

The Pact of the Euro is a policy promoted by France and Germany to stabilize the economy of the European Union and further away from bailouts. Its base is to eliminate the debt of countries with common economic policies that promote trade. This will boost competitiveness, enhance the sustainability of public finances, will reinforce the financial stability and control the deficit.

The means used to achieve these ambitious goals are basically two: to link wages to productivity and to moderate their wages. This last point is the one most on the minds of society, which believes that this measure will lead without reference to increased poverty among the citizenry. Based on the theories of the advocates of Euro Pact should be down from the salaries of public employees, as these often form the basis for establishing private business.

The jobs boost through tax breaks to businesses and allowing greater geographic and occupational flexibility for employees, which could result in a loss clearly what has been termed the “quality of life.”

What will make the member states?

Some policies would be implemented immediately in the states of the eurozone would be related to the VAT increase and tightening the control of the deficit and banking. The audit by Europe would be real every twelve months.

In Spain, neither the PSOE nor the PP have opposed these measures, as deemed necessary to reinvigorate the economy and end the crisis in which the country finds itself. They believe that maintaining the current economic policies increasingly the country and would be more catastrophic consequences.

What arguments are opponents of the Pact of the Euro?

Reduce wages and increase the VAT will certainly make poorer citizens. It is undeniable that many of the world’s most powerful economies like the U.S. and Germany have high salaries and that is the basis of its strength. In fact, Americans have huge debts, the enemy that try to eliminate the Europeans. In some forums recalls the words of Henry Ford, an icon of liberal economics, which advocated higher wages for employees, since that was the only way that they could buy the cars he produced.

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