Sprinkles I too would do the same. Before you wrote that I was going to say something. I've recently seen the same documents you mentioned and to be honest the situation in easy is now beyond the pale. I wasn't aware it was this bad. It is unreasonable. Easyjet are playing a very short term game. A game which eventually will make the job not worth it - certainly not with the level of debt we have attached to it. Life's too short.
To that end I'd recommend taking the Monarch offer with both hands and wish you and anyone else who does luck with it.