Abstract
The paper first gives a brief description of the new policy surveillance system in the eurozone. Then it is suggested that the macroeconomic policies adopted in the context of reinforced surveillance are incoherent. The implications of austerity policies for workers are discussed; young workers are clearly badly affected. Details are given of acute pressures on European social models in the economically weaker countries, taking Portugal, Greece and Ireland as examples. It is concluded that the new policy regime in the eurozone makes social dumping the central social strategy in the monetary union.