The European Commission and national governments reacted to the economic and financial markets crises with a new, one-sided and crises intensifying austerity policy. Wages and social benefits became a central adjustment variable of the currently existing macroeconomic imbalance. Until today the trade unions in many European countries see themselves confronted with a downward-oriented interventionist wage coordination. This supply-side wage coordination must be countered by a demand-side coordination. Those responsible for this can only be the trade unions, supported by the state: taking action against precarious employment and strengthening collective bargaining autonomy and the binding effects of collective agreements. The trade unions cannot, however, solve the European crisis alone. Further development within Europe towards a monetary, economic and social union is indispensable.
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