Regulate global finance now!
Quote of the day: Victor BOŞTINARU MEP – Romania
The world is facing the consequences of a bad financial system, now let the financial system and the speculators contribute to the recovery!
The global financial crisis is affecting every aspect of our lives, threatening jobs, savings, pensions and public services everywhere.
Today’s crisis is not just another economic downturn. We are living through a systemic crisis, which has had devastating consequences across the globe: a crisis in the unregulated global financial market system that sacrificed long-term investment, jobs, wages, environment and the well being of the planet and its people, for the benefit of a minority. This crisis must be the trigger for a wholesale reform of the global economic order. We have an opportunity to transform the financial status quo. A new paradigm is needed which privileges sustainable development and social justice, not profit for profit’s sake.
Financial reform: Europe is not on the right track!
The financial reforms which have recently been undertaken in Europe are fragmented and have limited scope. EU proposals so far are limited and fall short of what is needed to shape a sound financial system. There is an obvious lack of political will, and some recent short term improvements on financial markets are being used by certain European leaders to avoid legislation, and go back to “business as usual”. That will only lead to increased job losses and new crises. It is simply unacceptable to put citizens at further risk. We must stop this.
Let’s take action!
It’s time for citizens around Europe to raise our voices and demand that the fundamental causes of this crisis be addressed — we need tough rules to stop the financiers’ folly, and a new framework that better serves the public interest. The unregulated global financial market and economy must be subject to fair and transparent global governance. EU governments and the European institutions must put social justice and a new respect for the planet at the forefront of the debate on financial reform. That’s why it’s so important for Europeans to join forces for financial reform.
Europeans for financial reform
Europeans for financial reform is a coalition of progressive forces, ranging from NGOs to Trade Unions, citizens, academics and progressive politicians, that have come together to spearhead a campaign for real reform in our banking and financial system. The campaign was launched on September 21st 2009, and the coalition is growing, with new members joining our campaign every day (http://europeansforfinancialreform.org/en/user/register).
