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At the 2nd Congress of French affiliate CGT Banque Assurance, Oliver Roethig told 200 participants: “People say what is happening now reminds them of the crisis of 1929 and the Great Depression.



“What it reminds me of is the ancien regime. Financial markets and Marie Antoinette have lived according to the same motto: "Après nous le déluge" - "After us the Deluge".



“As then, we need a revolution!



“While killing people cannot be justified, short-termism, corporate greed and regulatory negligence must be sent to the guillotine.



“We need a new start! We need a socially and ethically responsible finance industry.



“This is not a matter of better regulation and a different business model alone. It requires a transnational framework for industrial relations.



“Indeed, industrial relations is at the heart of a social and ethical finance industry. It is part of overcoming the financial crisis.”



“We need an institutionalised system on employee involvement at transnational level and we need global agreements with multinational companies.”



“UNI Finance works on establishing a worldwide trade union network in each multinational bank and insurance company. The purpose is to exchange information, monitor management’s behaviour in the different countries, coordinate activities and be the opposite number of a company’s top management.



“These elements, transnational industrial relations are a corrective to managers and shareholders gone crazy.



“Whether national or global, companies have to take account of the interests and concerns of their employees. This means, they take account of the interests of customers and society at large, as well.”



“That is what UNI Finance, unions, workers and people expect.



“UNI Finance will push financial institutions and governments that this revolution will take place.”





The full speech is available here:



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