News

The Federation of Finance Unions of the Mediterranean countries – UNIMED, affiliates of UNI, which includes all the unions representing the finance sector of Turkey, Greece, Cyprus, Malta, Italy, Spain and Portugal totalling membership of around 400, 000 members met in Valletta, Malta between 28-29 September 2009 to discuss the following:

• The economic and financial crisis: the role of International trade unionism and of the social dialogue
• Sustainable remuneration policies: limit to variable wages, manager bonus and commercial pressures
• Human and Trade Union Rights – Columbia Case
• Co-operation in the Mediterranean: Consolidating the relationships within the Mediterranean region - the Palermo Process
• Trade Unions Alliances and Global Framework Agreements: UNI-Finance policies

With refence to the debate and its conclusions, which also included Mr. Giancarlo Durante , the president of the social affairs committee of the European Banking Federation – EBF and Associazzione Bancari Italiani - ABI, fully recognised that there still exist common concerns and issues about the risks that threaten the European financial systems and structures and therefore the need to strenghten social dialogue both at National and European level is becoming more than evident. Further to discussions, the meeting approved the following fifteen point document:



1. Employees pertaining to the financial sector have been unjustly held responsible for incorrect practices and the abusive sale of toxic products.



2. National / international authorities and regulators have not as yet fully responded with assurances that concrete action that has been to elimate the risks and so that all will return to normal.



3. UNIMED appeals to all its affiliates to work for the strenghtening of the Social Dialogue process at national level which would enhance their possibility of maintaining and preserving conditions of the employees.



4. UNIMED appeals to UNI-FINANCE to proactively renew hence relaunch the process of Social Dialogue in the Banking, Finance and Insurance sectors by actively contributing directly to the resource requirement to assisting strategically and politically in the planning and realisation of projects and initiatives relating to the process.



5. Renumeration policies implemented by financial institutions have lately been characterised by the application of ‘short-termism’ to quick and maximum profitability.



6. Limiting the use of variable salary applications and bonus rewards to managers should have a minimal impact on policies relating to renumeration and compensation



7. Continuous Professional Development – CPD, renewed code of ethic practices and social responsibility are indispensible to a present and future recovery of the financial system



8. UNIMED strongly reiterates and appeals to all affiliate unions that accountability and responsibility should ensure integrity and best practice to any sales transaction presented



9. UNIMED declares its total support to human rights and union association all over the world



10. The Columbia case (to which a specific document has been referred to) clearly witnesses the lack of human application to decent human rights belonging to any normal citizen and is a flagrant breach of any process of democracy.



11. UNIMED pledges total support and solidarety with the representative Columbian unions, their officials and their members with an honest commitment of full cooperation



12. UNI supports the Turkish unions in their efforts to secure basic terms and conditions when negotiaten with local financial institutions and especially when a merger or takeover is taking place



13. UNIMED in strict collaboration with UNI-Europa and UNI-Africa commits itself to set up a work project through an open common and transparent process of social dialogue by organising a EuroMed finance related conference in Malta during Spring 2010 with the participation of all respective southern European unions together with all other affilates in the mediterranean region



14. UNIMED strongly pledges union alliance to all global agreements and pledges to assist UNI-finance in its efforts to achieve its social and political objectives attached to this initiative



15. UNIMED commits to active participation and will strongly support any UNI-Finance policy together with its initiatives. National union solidaerity can strongly benefit from a well internationally coordinated and organised trade union movement.



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