09 Apr '11, 3pm

Tens of thousands protest against European austerity

Tens of thousands protest against European austerity

BUDAPEST: European and local trade unions held a massive demonstration in Budapest Saturday to protest against austerity measures, which European finance ministers said were unavoidable. Organisers estimated the turnout at around 40,000 people, who marched along the main avenue of the Hungarian capital, as EU finance ministers were wrapping up a two-day meeting. Hungary currently holds the presidency of the European Union. The unions harshly criticised the European Union's push for more convergent economic governance, fearing wages would be sacrificed for the sake of competitiveness. The marchers held up placards saying "No austerity" and demanded "fair pay and jobs" and also bashed bashed bankers anhd European leaders, in particular German Chancellor Angela Merkel and French President Nicholas Sarkozy. "We want jobs, growth, our welfare state intact, and we are not going ...

Full article: http://www.channelnewsasia.com/stories/afp_world/view/112...

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