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Sen. Sanders is on the money: Austerity is the wrong approach for Greece

By February 9, 2015 No Comments

In response to Senator Bernie Sanders’ February 8 letter calling on the European Central Bank to stop pushing for disastrous austerity policies in Greece, CREDO released the following statement:

“Senator Sanders is on the money. The U.S. Federal Reserve Bank shouldn’t help the European Central Bank throw Greece further into an economic crisis by contributing to devastating austerity measures,” said Becky Bond, CREDO’s Political Director, adding, “we join Senator Sanders in calling for Federal Reserve Chairwoman Janet Yellen to use her influence with the ECB to argue forcefully for an end to austerity in Greece,” concluding, “the democratically elected government of Greece must be allowed to raise the minimum wage and maintain a social safety net. If the Fed joins the ECB in tightening the screws of austerity, it could even fuel the rise of fascist elements as the country spirals deeper into depression.”

CREDO Action, part of CREDO Mobile, is a social change network of 3.5 million activists, sending millions of petition signatures and tens of thousands of phone calls to decision-makers each year. CREDO Action members also participate in meetings, protests and other direct action for progressive change.