The march is being organized by the European Trade Union Confederation (ETUC), which is warning that Europe could be returned to recession by the budget cuts currently taking place in many countries.
It estimated that around 23 million people have already lost their jobs in the EU as a result of the financial crisis and said that more are likely to become unemployed as a result of the policies currently being pursued by nation states.
An ETUC spokesman said: "We didn't cause this crisis. The bill has to be paid by banks, not by workers."
Earlier this month, German finance minister Wolfgang Schauble said that EU countries which do not meet their deficit reduction targets should have some of their voting rights and funding suspended, reported the Financial Times.
By Claire Archer