European Trade Union Confederation (ETUC) General Secretary John Monks told Nicholas Sarkozy’s ‘New World, New Capitalism’ conference yesterday that

“we have done better that we did in the 1930s. But …the global economy is very fragile and in many countries problems will get worse before they get better.”

He said that there should be no return to business as usual, that young people needed a European jobs guarantee, and that Governments should not abandon their crisis interventions until growth was well-established. The financial sector still needs major surgery, including a financial transactions tax. His speech is brief, but pretty much says it all.

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