[E-rundbrief] Info 841 - OWINFS: Global trade - financial crisis

[Matthias Reichl]

E-Rundbrief - Info 841 -  Our World Is Not For Sale [OWINFS]:
Confronting global trade as a root cause of the financial crisis!
Thalif Deen: UN: In Krise alle Register ziehen - Miguel d' Escoto
Brockmann, Präsident der UN-Vollversammlung im IPS-Gespräch.(Auszug)

Bad Ischl, 26.6.2009

Begegnungszentrum für aktive Gewaltlosigkeit

www.begegnungszentrum.at

================================================

Confronting global trade as a root cause of the financial crisis!

Our World Is Not For Sale

23 June 2009

Some Key Points for Member Groups of the Our World Is Not For Sale
Network [OWINFS, www.ourworldisnotforsale.org] at the United Nations
Conference on the World Financial and Economic Crisis and its Impact on
Development, June 22-24, 2009.

Ever since the ‘Battle of Seattle’ almost ten years ago, the
international network of civil society organizations and social
movements known as Our World Is Not For Sale [OWINFS], has been
vigorously engaged in the
promotion of global trade justice through campaigns contesting the World
Trade Organization [WTO] and bilateral free trade regimes. One of OWINFS
major priorities has been to expose how the deregulation of financial
services through the liberalization of trade worldwide has been a major
cause of the current global financial crisis. From this perspective, we
call on officials at the highest level of this United Nations Conference
to take the following positions:


     * Affirm that the global financial and economic crisis is
structural in nature and that the current free trade paradigm is a major
part of the problem. For example, the liberalizing of financial service
providers as well as trading in (risky) financial products, which was
made possible under the General Agreement on Trade in Services [GATS]
and the Financial Services Agreement of the WTO, allowed for securities
and derivatives based on US sub-prime mortgages to be sold and bought
worldwide, thereby precipitating the current crisis

     * Reject the position that concluding the Doha Round of global
trade negotiations at the WTO is the solution to the crisis. On the
contrary, continuing liberalization of the financial sector of national
economies through the GATS of the WTO and the FTAs will only serve to
worsen the crisis. Once financial services are liberalized, foreign
banks typically refuse to provide credit or capital to small farmers and
local industries while financing mega industrial and resource projects
that do serious damage to the environment. Moreover, the banks are free
to speculate in risky ventures while governments are forbidden to pass
laws protecting consumers.

     * Ensure that all countries, especially developing nations, retain
the policy space they need to regulate their financial sectors and
manage their economies in order to achieve their development goals and
priorities. In particular, financial services must be regulated and
developing countries need to have the policy space required to ensure
that banks and other financial institutions contribute to the
development of equitable and sustainable societies [including action on
overcoming poverty and climate change].

     * Remove from the WTO and all free trade agreements those
mechanisms which compel countries, especially developing countries, to
liberalize and deregulate their financial services and capital flows. In
particular, developing countries must be permitted to roll back trade
commitments they have made to liberalize financial services and products
[e.g. under the GATS or the WTO Financial Services Agreement] or other
sectors of their economies that may be harmful to their recovery.

     * Strengthen the role of the UN in overall global economic
governance and crisis resolution. Unlike the G-8 or the G-20, the UN is
the most representative institution of all nation states and governments
in the world today. It is, therefore, imperative to strengthen the role
and capacity of the UN to oversee and coordinate global economic
institutions like the WTO, World Bank and the International Monetary
Fund by supporting the creation of a Global Economic Council.


Finally, it is the duty and obligation of governments to ensure that
their economies are developed in such a way as to serve the basic
economic, social and environmental needs of their peoples. To do so,
governments must regain control over their finances in the public
interest. Instead of trade regimes designed to protect banks and
corporations, we need trade rules that promote and protect the
development equitable and sustainable societies.

www.ourworldisnotforsale.org

----------------------------------------

UN: In Krise alle Register ziehen

Präsident der UN-Vollversammlung im IPS-Gespräch

Von Thalif Deen

(Auszug)

New York, 25. Juni (IPS) - Die Vereinten Nationen sind derzeit
Gastgeber einer internationalen Konferenz über Wege aus der der
internationalen Wirtschaftskrise. Dass dem Treffen in New York
hochkarätige Vertreter der Industriestaaten ferngeblieben sind, ist
nach Ansicht des Präsidenten der UN-Vollversammlung, Miguel d' Escoto
Brockmann, "Ausdruck eines im Licht der derzeitigen Entwicklung
unangebrachten Überlegenheitsanspruchs".

"Es gibt Länder und Institutionen (wie Weltbank und der Internationale
Weltwährungsfonds IWF), die aus offensichtlichen Gründen gegen diese
globalen Gespräche sind", sagte der streitbare Vorsitzende im
IPS-Gespräch. Sie seien nicht bereit, ihre Privilegien aufzugeben und
vom Sockel der Selbstgefälligkeit herabzusteigen. Das Finanzdebakel
habe gezeigt, dass ihr Allwissenheitsanspruch der Realität nicht
standhalte...

Das gesamte Interview in: http://www.ipsnews.net/news.asp?idnews=47343


Miguel d' Escoto Brockmann, Außenminister Nicaraguas - und vom Vatikan
wegen seines politischen Engagements amtsenthobener katholischer
Priester -  ist zurzeit Präsident der UN-Vollversammlung.
(M.R.)

-- 

Matthias Reichl, Pressesprecher/ press speaker,
Begegnungszentrum fuer aktive Gewaltlosigkeit
Center for Encounter and active Non-Violence
Wolfgangerstr. 26, A-4820 Bad Ischl, Austria,
fon: +43 6132 24590, Informationen/ informations,
Impressum in: http://www.begegnungszentrum.at
Spenden-Konto Nr. 0600-970305 (Blz. 20314) Sparkasse Bad Ischl,
Geschäftsstelle Pfandl
IBAN: AT922031400600970305 BIC: SKBIAT21XXX