According to a report by the Austrian Trade Union Federation and the Austrian Chamber of Labor, the policy that troika is implementing in Greece violates human rights and the European law.
Andreas Fischer-Lescano, professor of European law in the University of Bremen and writer of the report, strongly criticizes the European Central Bank and the European Commission about the austerity measures in Greece, stating that their demands are unfair and violate fundamental human rights acts in employment, social security and property.
According to the report, measures such as the reduction of minimum wages, the cuts in the health system or the reduction of the subsidy on housing construction, have serious consequences for vulnerable social groups. Lescano believes that several of these measures could be fought in the European Court of Human Rights or the International Court.
“There are certain limits to what you can write in a memorandum of understanding. There are also limits to what can be written in a bank contract, courts and laws are always limiting that. In international agreements it should be the same, the Troika MoU is not beyond the law either,” he said.
Lescano also noted that the troika put financial stability above all other considerations. “But financial stability cannot be achieved without social stability,” he said.