ITF urges extension to Greek bailout package following 'No' vote

As Greece heads into uncertain and unchartered economic territory following the referendum on austerity ITF secretary-general Stephen Cotton was clear in his support of an extension of the EU bailout following a visit to the country.

“I’ve visited Greece many times but I have never before witnessed the level of insecurity people have over the nation’s future,” he said.

“The referendum vote makes clear that they decisively reject the dead end of austerity.”

Cotton urged an extension to the bailout package while a solution was found saying: “The ITF stands by its affiliated unions and their members in this grave and precarious time. Like both the Greek Confederation of Workers (GSEE) and the German Confederation of Workers (DGB), we urge an extension of the Greek bailout package, a deferral of debt repayments to the IMF and the resumption of negotiations between Greece and the creditor institutions – in order to find a solution based on an investment plan for growth that avoids once again shifting all of the burden of this crisis onto workers and pensioners.”