Education International
Education International

European education unions join Regulate Global Finance Now!

published 2 July 2012 updated 5 July 2012

The EI European region, the European Trade Union Committee for Education (ETUCE), has joined the large Regulate Global Finance Now! campaign. This campaign comprises five sub-campaigns: “A financial transaction tax, now!”, “Credit Rating Agencies”, “Stop food speculation! Now!”, “Managing future crises”, and “Bonus watch!”

Real reform movementRegulate Global Finance Now! is led by a coalition of progressive forces, ranging from NGOs to trade unions, citizens, academics and progressive politicians, that have come together to initiate a movement towards real reform in the European banking and financial system. The campaign was launched on 21 September 2009, and the coalition is growing, with new members joining the campaign every day.

The aim is to eradicate the global financial crisis affecting every aspect of European workers and citizens’ lives, threatening jobs, savings, pensions and public services everywhere.

EI: austerity hitting education

“Education unionists strongly believe there is a ‘vicious spiral’ in the European region, spreading austerity measures leading to less taxes, less public spending, and increased cuts in education,” said ETUCE European Director Martin Rømer. “Together with our partners within the ‘Regulate Global Finance Now!’ Campaign, we are committed to a common goal: reforming the financial markets, so that they serve the real economy and jobs.

“As educators’ unions, we are also underlining the necessity of protecting education as one of the important tools to get out of the economic crisis. We have an opportunity to transform the financial status quo. A new paradigm is needed, privileging sustainable development and social justice, not profit for profit’s sake.”

Crisis must be overcome

That is exactly why ETUCE supports the EI Education-in-Crisis Campaign and has decided to launch a specific European campaign against the negative impact of the economic crisis on education. “We consider the crisis must and can be overcome, with education and society getting stronger and improved after the recovery,” said Rømer. “We have already pushed for a Financial Transaction Tax at European level. It has been approved by the European Commission, and is now well underway. We are now involved in a larger campaign. Financial markets cannot govern us. Workers and education must be put first!”

EI calls on European trade unionists and concerned citizens to sign up the campaign’s call to action: Regulate Global Finance Now!

To learn more about the campaign, click here

The ETUCE campaign against the impact of the crisis is available here

We also invite you to go to the dedicated EI website, Education in Crisis