"The European Union’s fresh push for growth must not compromise its drive for austerity, Italian Prime Minister Mario Monti said Thursday, as he joined leading EU politicians in defending the bloc’s sometimes unpopular belt-tightening measures." (Source The Independent Online)

For all the new lip service to growth we now hear from Draghi, Monti, Van Rompuy and other EU leaders, one thing is sure: the austerity leopard will not change its spots. What is meant by "putting growth centre-stage" will be nothing more or less than further labour deregulation (sold under the Newspeak “Flexicurity”).

What we really need is a debate on prosperity and how to protect it, social redistribution and radical reform of the financial sector.