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Subject: UNI Europa Youth Global Financial Crisis Statement



Submitted by: CWU, United Kingdom & ver.di, Germany

Motion Text:

UNI-Europa Youth notes that the collapse of the housing and financial sector markets brings to an end not only an unbridled period of growth and greed in the developed world, but also a neo-liberal economic capitalist doctrine on financial matters that has prevailed since 1945 and further galvanised in the 1980's.



UNI-Europa Youth are fearful that the unprecedented levels of government intervention to support ailing financial institutions will lead to an increased burden of taxation on the poor, and reduced public services; Trade Unions must be actively involved in the process of reconstruction and participate fully in shaping the new financial global model. Trade Unions must utilise their structures and all political means at their disposal.



Recent global stock market events may well be a hammer blow to the "New Right" consensus on "light touch" regulation but UNI-Europa Youth cannot switch off to an inevitable ideological shift and commitment post Presidential elections, to pursue neo-liberal economic de-regulation. Where Wall Street leads, other aspirant markets will follow...



Whilst we accept that government intervention to ailing financial institutions has saved thousands of jobs, governments need to ensure they take a firmer hand in regulating these institutions to safeguard against reckless financial behaviours in future.



UNI-Europa Youth sees the current global financial situation as an opportunity to demand for investment in the public sector; to include sustainable social housing build, investment in public transport and pan European investment in shared renewable energy projects.



UNI-Europa Youth also sees this as an opportunity to tax the assets of the “super-rich” who have benefited from a capitalist financial climate, so that the burden of the current financial situation is not handed back to working class people.



Further, UNI-Europa Youth opposes any attempt to privatise health insurance and pension funds, as this action would further detriment working class people.



UNI-Europa Youth endorses the Declaration of London made by the ETUC, in partnership with UNI-Europa, and further demands that all affiliates ensure that youth voices, ideas and youth structures are engaged and involved in the trade union movement’s response to this global financial crisis, in doing so exploring new ideas and the most effective ways possible.



We also call on the UNI-Europa Executive at their next meeting to acknowledge and support UNI-Europa Youth’s ‘Global Financial Crisis Statement’ through all media and communication channels at their disposal; calling on all affiliates to endorse this statement, fully engaging youth structures and youth representatives in the Trade Union movement in order that they be included in the response to this global financial crisis and the challenges we will all now inevitably face together.





Adopted with changes