Invitation to seminar : WHO PAYS FOR THE CRISIS?
AK EUROPA, the Brussels Office of the Austrian Federal Chamber of Labour, and ÖGB Europabüro, the Brussels Office of the Austrian Trade Union Federation (ÖGB) would like to invite you to a panel discussion:
WHO PAYS FOR THE CRISIS?
Is the EU ready for bank levies, bonus taxes & financial transaction taxes?
Wednesday, 14th April 2010
19:00 h
Permanent Representation of Austria to the EU
Avenue de Cortenbergh 30, 1040 Brussels, 1st floor
Europe is suffering from the worst economic crisis since the foundation of the European Union. The sole responsibility lies with the banks and the financial industry. Governments and the central banks spent billions of taxpayers’ money to bail them out. As a result, all Member States are witnessing a dramatic rise of public debt. The crisis has wiped out 20 years of budgetary discipline under the Stability and Growth Pact overnight. Politicians had initially promised that banks and the financial industry would have to bear the costs of the crisis they had provoked. Today not much is left from this promise. The financial transaction tax is about to be buried silently. And banking levies discussed in several countries often turn out to be a bluff. In reality, they are insurance schemes against bank losses in future banking crises, thereby further encouraging speculation and excessive risk taking.
Introductory statement:
John MONKS, General Secretary of the European Trade Union Confederation
Taking part in the discussion will be:
Udo BULLMANN, MEP (S&D), Coordinator in the Committee on Economic and Monetary Affairs of the European Parliament (tbc)
Zsolt DARVAS, Visiting Fellow Bruegel, Co-author of a feasibility study on the introduction of a Financial Transaction Tax for the European Parliament (“Small is beautiful”)
Sony KAPOOR, Managing Director Re-Define
Otto FARNY, Head of the Tax Policy Department of the Chamber of Labour, Vienna
European Commission (TBC)
Financial Industry (TBC)
Moderation:
Cornelia PRIMOSCH, Journalist, ORF Brussels
On the eve of the informal meeting of the Economic and Finance Ministers of the European Union in Madrid and meetings of the G20 and the IMF in Washington, it is now the time to stand up against the attempt of the finance industry to privatise profits and socialise losses. The Austrian labour representatives AK and ÖGB – national partners of the Europe-wide campaign “Regulate Finance Now!” and the Austrian campaign “Tax against Poverty” – demand a substantial contribution of those who caused the crisis towards the costs of the crisis.
The panel discussion will be held in German/English and translated simultaneously.
Following the discussion, we would ask you to join us for a buffet dinner.
Please register until 13th April 2010:
For further information:
Tel: 02 230 62 54 or 02 230 74 63
E-Mail: office@akeuropa.eu or europabuero@oegb-eu.at