Austerity policy threatens eurozone future, says EC jobs chief

The EU’s austerity policy has failed, pushing the numbers of poor to record levels, and now threatens the future of the eurozone, according to outgoing Employment Commissioner László Andor.

An economist, Mr Andor is the first Commissioner to speak so clearly againstthe continuing German inspired push for austerity.

He warned that reducing poverty “must permeate the meeting rooms of EU finance ministers... to avoid the EU becoming a poverty-generating, low-skills, low productivity, and low-wage economy”.