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Belgium today is witnessing the first general strike in nearly twenty years to protest government austerity measures, which meets at a time when EU leaders to sign a permanent fund to save for the euro area.It is expected that this strike to an almost complete paralysis in Belgium, closing down the entire network of trains and buses, and many schools will close their doors and cease production in the factories Audi and Volvo.Brussels Airport was forced to cancel all flights because of the union plans to stop the access roads to the airport.The unions have called for the first general strike in the country since 1993 because of government plans to increase the effective age of retirement, in addition to other procedures designed to provide 11.3 billion euros ($ 14.84 billion).
The government also froze 1.3 billion euros of spending beginning of the year after a warning from the European Commission that Brussels is not on track to meet its objectives. Belgium has pledged to reduce the budget deficit to below the level required by the EU of 3% of gross domestic product.It followed the Fitch credit rating classification of the example of Fannie Standard & Poor's and Moody's on Friday cut the credit rating of Belgium with a negative outlook, his pointing to fears of a worsening debt crisis and the recession could undermine the commitment to reform.European SummitIt meets in Brussels today, EU leaders to sign a permanent fund to save for the euro zone is expected to agree to the terms of the Treaty of financial stresses budget rules to national legislation.It is assumed that the summit meeting will focus on providing jobs and growth, with the aspiration of leaders to reduce the emphasis on austerity budget that is unpopular politically.It is expected that the summit meeting that up to twenty billion euros in unused funds from the EU budget from 2007 to 2013 will be directed towards the provision of jobs, especially among young people, and a commitment to liberalization of bank lending to companies.The leaders will sign a treaty set up what is known as the European stability mechanism, a Save the permanent size of five hundred billion euros due to start work in July next year before the date that was originally planned.The Fund will replace the European stability mechanism known as the facilities of the European financial stability, a fund used to temporarily save the Earl Nada, Portugal and Greece will help in the program's second save.
Source: Al-Jazeera
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