THE FIRMING DOWN ORGANIZATIONS ARE POSITIONED AGAINST THE RESULT OF THE VOTE PERFORMED IN THE PLENARY OF THE EUROPEAN PARLIAMENT (the one that approved the PEPP) DONE ON APRIL 4, 2019.
It is clear that the PEPP approval (English acronym for Pan-European Personal Pension Product), by the European Parliament, expresses total social cruelty and total evidence of the capitalist interests of the European Union. The European bourgeoisie bets firmly and harshly in defence of their economic interests, of their class interests. They have voted for the privatization of pensions, which will be marketed by banks, insurance companies, fund management and / or investment managers, i.e., the creme de la creme of European financial capitalism.
The vote this morning is clearly expresses what the European Parliament is, what class interests defends and what political role it has. The vote has faithfully reflected the “social” character of the EU. Only the naive, the uninformed and those who, with treachery and premeditation, deceive the citizens of EU countries, can defend the social character of the EU. Today’s vote historically reflexes that the EU was created to defend the interests of the European and that only it represents that bourgeoisie. It was not intended to defend decent public pensions, nor to fight for wage and social equality: it was born to exploit workers and whatever social sectors that are necessary.
The approval by 338 votes in favour, 143 against, and 139 abstentions is a true reflection of the fact that the EU and its Parliament is an institution that only defends, to the extreme, the interests of the powerful. With the approved tax breaks, which is public money, private pensions or retirement plans will be financed, leading to the perversion that public money will not only contribute in a decisive way to finance private pensions, but will also contribute to blow up public pensions, generating more inequality, more poverty and more social misery.
That EU they say was born to increase rights, social improvements and to increase individual and collective opportunities, has been clearly portrayed as the Europe of capital and merchants, completely alienated from the people’s interests and clearly in the service of oligarchic interests.
What class unions call robbery, depletion of public money, exploitation and consequent popular misery, the EU and its instruments call it financial products, which according to them would have “advantages”, such as choosing a pension plan for retirement while contributing, as in an “Austrian backpack”, even when changing residence, or such as providers both nationally and internationally after having contributed for a minimum of five years, etc., all with the strategic objective of channelling savings, i.e. investments, so that the banks and financial institutions are guaranteed an economic pillar that allows them to speculate long term.
To whom is the “PEPP product” preferentially addressed? According to the European Commission, it will be a product suitable for any savings profile, from workers to unemployed or students. It is clear that the recently approved PEPP Regulation has the strategic objective of substituting public pensions by private ones.
Given this evidence, the struggle in defence of public pensions should be increased. We must add the vast majority of society to these struggles. It is clear that only a unified and consistent struggle for clear class interests can be the determining instrument for the defeat of the perfidious and criminal plans of European capitalism against the working class and the popular sectors.
In Europe, May 2019
List of signers: