BLOCO de ESQUERDA
National Board Resolution of Left Bloc, April 11 2011
1. The Prime Minister has announced, this week, a request of intervention addressed to the European Financial Stability Facility and the IMF. After having insistently promised to avoid and to oppose this intervention, José Sócrates has given up from his most solemn promise. Left Block rejects this use of the IMF and European Union programmes. It is not an aid, but rather a redemption and a financial intervention that has as a price the imposition of extremely severe measures against wages and pensions, that worsen and extend the decadence of the Portuguese economy and its inequality. As in 1983, it is about an enormous transference of income from the labour to the capital, to promote the economic laxity and the absolute power of finance. We recall that, in those years, the workers have lost three months of their salary per year and the economy has afterwards maintained all its inefficiencies and structural defects.
Left Block holds the Socialist Party (PS) and the Social Democrat Party (PSD) directly responsible for the several Growth and Stability Plans (GSP) that led to this situation, thus creating an extremely severe recession. All these packages of austerity measures have stimulated more speculation and have not avoided it, they have worsened the crisis and have not solved it.
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