Rethinking Bretton Woods | Tue, Oct 25, 2011
More than 190 organizations from over 53 countries demanded that the Group of 20 countries, meeting in Cannes on November 3-4, uphold their human rights responsibilities in financial decision-making. The statement calls for:
- Endorsement of worldwide stimuli measures according to human rights principles;
- Reforms to prevent speculative activity in financial markets from undermining the enjoyment of human rights;
- Action to limit the damage to public funding of financial institutions that collapse due to excessive risk-taking
- Regulations of bank capital requirements consistent with human rights standards;
- Agreement to increase the relative fiscal pressure on the banking sector and to cooperate to increase transparency and mutual accountability in revenue mobilization;
- An agreement to drastically reduce greenhouse emissions which contribute to climate change.