The unelected Commissioners in Brussels, using their Lisbon Treaty and Stability Pact powers, also whine that the UK economy needs swifter and deeper cuts in public spending to reduce the annual deficit of £187 billion which represents 12.7% of GDP - similar to that of Greece.
They all assume that they will force the workers of Britain to surrender all the social, economic and political gains we have won since 1945 - in the same manner as the Greek working class are currently being extorted.
They will soon move on to attack the workers of Portugal, Spain and France - not to mention the "free" workers of Central and Eastern Europe who were conned into believing that membership of the EU was preferable to Socialism!
The UK economy is NOT in jeopardy - the boss class and their supporters are merely using this depression to try and scare the population and panic us into self-destruction.
Public DEBT, as a percentage of GDP was in excess of 40% at the end of World War 2 and we managed to survive, advance and improve living standards by continuing to invest in public services.
It was during this period that the railways and the energy utilities were nationalised, that the National Health Service was brought into existence, that education was expanded, that a massive council house building programme was completed and as a result the economy forged ahead through the fifties and the sixties, providing almost full employment.
Even in the sixties, public DEBT as a percentage of GDP was approaching 20% and still no meltdown or economic Armagedon!
The slide began in the seventies and has continued since because the bosses revolted against falling profits and cajoled their political partners to begin to attack the Trade Unions, wage levels and public services as a way to satisfy their greed.
The results of this neo-liberal Capitalist gorging on society ended in the spectacular failure of the banking and financial system and its resulting bail out using £1.3 trillion of OUR money.
The £187 billion deficit can easily be contained by pursuing the scandalous levels of tax evasion, tax avoidance and non-collection in the UK, costing £137 billion each and every year, together with the cancellation of Trident nuclear weapons renewal!
Unless we defeat the bosses' onslaught we face a continuing and strengthening depression with all the misery and horror that will follow in its trail.
A revolutionary situation exists when the ruling class can no longer rule in the old way.
This is the condition of the struggle today - let us throw back the attacks of the ruling class by defending our services, our jobs and our unions and produce the conditions for the bosses' defeat and the introduction of policies which place the interests of the workers first and foremost!
