PSI blog on the Financial Crisis

Trade union priorities for 7th WTO Ministerial Conference

In the light of the conclusions reached at the Global Unions Trade, investment and Labour Standards (TILS) meeting that took place on 29 November, please find below a one-page summary of trade union demands for the 7th WTO Ministerial Conference.

Download TU_priorities_for_7th_WTO_Min_Conf

The WTO and Regulation of Financial Services

Implications for the Current Economic Crisis

Foreclosed homes. Lost jobs. Collapsing banks. The greatest government involvement in the economy in generations. While these headlines dominate the news, one of the root causes of this crisis has largely been ignored: over the last several decades, the U.S. government and corporations have pushed extreme financial deregulation worldwide using "trade" agreements and international agencies like the WTO.

Read here the Global Trade Watch's (GTW) complete fact sheet on the WTO's role in the financial crisis (PDF).

Marlee Matlin urges that people with disabilities be “counted in” economic recovery efforts

Expressing concern that people with disabilities may face rising exclusion from the world of work due to the global economic crisis, Academy Award winning actress, television star and activist Marlee Matlin urged that they be “counted in” efforts to stimulate and support economic recovery.

“We read headlines telling us of reduced employment of disabled workers, less public expenditure on programmes relevant to their employability and employment, and reduced demand for products of enterprises employing disabled persons,” the actress said. “Disabled persons must also be ‘counted in’ programmes and services, including vocational and training, that help equip and prepare them for the economic upturn”.

Ms. Matlin was keynote speaker at a panel discussion held at the International Labour Office (ILO) on “People with Disabilities in Times of Economic Crisis.”

Read more here.

Global Unions Statement of Priorities for WTO Ministerial Conference

The 7th Ministerial Conference of the World Trade Organisation (WTO) will take place in Geneva, 30 November – 2 December 2009. Global Unions have published a Statement of Priorities for the Conference, setting out the key demands from the international trade union movement.

For public sector unions, the GATS (General Agreement on Trade in Services) is the area of most relevance as all our members work in services. The issue of domestic regulations will affect crucial service sectors such as financial services, education, utilities and land development. The Global Unions say that current proposals for restrictions on domestic regulation should be withdrawn and GATS Article VI.4 should be deleted or revised in order to protect governments’ ability to regulate and to enact domestic regulatory measures.

In practice, domestic regulations could abolish the right for regional and national government bodies to regulate. In a case driven by Antigua and Barbuda on US regulation on betting, the WTO panel says members’ regulatory sovereignty is an essential pillar of the progressive liberalisation on trade in services, but this sovereignty ends whenever rights of other members under the GATS are impaired.

PSI will participate in the Ministerial, but only has NGO status, which excludes the right to speak. We will also participate in NGO meetings outside the Ministerial.

Link to the Global Unions Statement:
http://www.ituc-csi.org/IMG/pdf/No_68_-_Annex_1_Global_Unions_stetement_of_priorities_for_the_WTO_ministrial_conference.pdf

Link to the Global Unions Update:
http://www.ituc-csi.org/IMG/pdf/No_68_Annex_2_Final-Update_WTO_Negotiations.pdf

Beyond Crisis

If you missed Beyond Crisis, the TUC (The Trades Union Congress) conference on progressive responses to the financial crisis, check out video highlights and presenters' articles on the ToUChstone blog:
http://www.touchstoneblog.org.uk/category/beyond-crisis/

More on the Conference can be accessed on this blog by clicking here.

Canadians speak on 'The Next Economy' for Canada

PSI affiliate NUPGE publishes the first of three reports on ideas that emerged from a series of 26 town hall meetings across the country to assess the way forward from the global economic collapse.

Six clear ideas emerged when the National Union of Public and General Employees (NUPGE) held town hall meetings in 26 communities across Canada this year to survey the wreckage of the global collapse and come up with ideas for 'The Next Economy.'

James Clancy, president of the 340,000-member union, says the responses gathered from ordinary Canadians were "eloquent, astute, sage and thoughtful" and deserve to be given serious consideration, especially since it was the "bright ideas from the masters of high finance (the experts) that brought our economy crashing down on top of us."

In Part One of three reports - entitled The Next Economy - Findings from the cross-Canada public sessions of Cut Me A Slice: A People’s Response to the Economic Crisis - NUPGE is publishing a summary of the advice and ideas that came out of the meetings.

Find more on this report here: http://peoplesresponse.ca/content/canadians-speak-next-economy-canada

Ireland: Public sector strike planned for 24 November

Irish public service unions are staging a 24-hour strike on Tuesday 24 November in protest of government plans for more cuts to public sector pay. Unions involved in the strike include the AHCPS, ASTI, CPSU, IFUT, Impact, INO, INTO, POA, PSEU, SIPTU, TUI, Unite and the craft unions. Excepting essential and emergency cover, staff across education, health, local authorities and the civil service will join the strike.

More from PSI website here.

ILO says economic crisis eroding real wages for second year running

Global growth in real wages slowed dramatically in 2008 as a result of the economic crisis and is expected to drop even further this year despite signs of a possible economic recovery, the International Labour Organization said. “The continued deterioration of real wages worldwide raises serious questions about the true extent of an economic recovery, especially if government rescue packages are phased out too early. Wage deflation deprives national economies of much needed demand and seriously affects confidence”, said Manuela Tomei, Director, ILO Conditions of Work and Employment Programme and lead author of the study.

Read the full ILO press release here: http://www.ilo.org/global/About_the_ILO/Media_and_public_information/Press_releases/lang--en/WCMS_116503/index.htm

The Global Wage Report: Update 2009 can be accessed here: http://www.ilo.org/wcmsp5/groups/public/---dgreports/---dcomm/documents/publication/wcms_116500.pdf

Europeans for financial reform: CALL TO ACTION launched!

Regulate Global Finance Now!

The "Europeans for Financial Reform" coalition has just launched its sign-on Call to Action. 

The global financial crisis is spilling over into our lives, threatening jobs, savings, pensions and public services everywhere!

Today's crisis isn't just another economic downturn – it's a systemic crisis bursting across the globe: a crisis of unregulated financial markets driven by neoliberal ideology that have sold out long-term investment, jobs, wages, the environment and the general well-being of the planet and its people for the benefit of a few.

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. Equality, social justice and solidarity should be considered as our core global values.
It's urgent that we increase the level of democracy, transparency and accountability of the institutions dealing with financial regulation and supervision.

Our vision of the financial system we want is clear: we want to create well-functioning and efficient financial markets that are capable of providing long-term, green, job-creating investments to achieve global development.

You can sign up and find more information by clicking here:  http://europeansforfinancialreform.org/en/petition/regulate-global-finance-now

Changing the rules of the game

"The financial crisis has provided an unprecedented opportunity for reforming the system. Suggested measures include levies to benefit developing countries, as well as taxes on financial transactions to help pay for saving the banks.", writes Katsuhiko Sato, PSI Regional Secretary for the Asia-Pacific region.

In August 2009, PSI’s Asia Pacific regional office, together with Building and Woodworkers’ International (BWI) and Union Network International (UNI), launched a campaign to promote the introduction of an international solidarity levy. The launch event, held in Jakarta, Indonesia, brought together 43 representatives of affiliates of PSI, BWI and UNI in 12 countries, the International Trade Union Confederation (ITUC), the Trade Union Solidarity Centre of Finland and the Norwegian Confederation of Trade Unions. The campaign is co-sponsored by the Friedrich Ebert Foundation’s Indonesia office...

Read the full article in the PSI FOCUS on Public Services magazine issue 16-2: http://viewer.zmags.com/publication/2b52a328#/2b52a328/10

The FOCUS magazine can be viewed on the PSI website at the following address: www.world-psi.org/focus