COC

Focus Three: Global Economic Governance

CSOs put forward financial regulation priorities for G20 (May 2013)

Rethinking Bretton Woods | Mon, Apr 29, 2013

CSOs put forward financial regulation priorities for G20 (May 2013)

 

Today we have an economy more dominated by finance than ever. Yet, a recent McKinsey report shows that only one fourth of the financial depth gained in the 12 years before the crisis was used to finance the real economy and households.

We need a new economic paradigm that ends the dominance of finance over real economy and society. In a statement prepared in the occasion of the Group of 20 Sherpas meeting held in Moscow, early May 2013, over 100 civil society organizations from 40 countries, in addition to regional and global networks, put forward their key priorities for financial regulation, financing for investment, and debt reform.

The statement is still receiving signatures (until June 7  2013). If you would like your organization to sign on this statement please contact Aldo Caliari at aldo@coc.org

Organizations deliver global financial reform proposals for Group of 20 Russian Presidency (February 2013)

Rethinking Bretton Woods | Thu, Feb 7, 2013

Organizations deliver global financial reform proposals for Group of 20 Russian Presidency (February 2013)

On February 13, 2013, the Group of 20 Working Group on Financial Architecture and Market Regulation will meet in Moscow. RBW Project Director Aldo Caliari was member of a drafting committee that coordinated preparation of a civil society input into that meeting. The paper “Making Finance Work for People and the Planet” spells out principles that should guide the reforms and lists 9 propositions of civil society with their corresponding backgrounds.

The G20 Track Record in Disciplining the Financial Sector (December 2012)

Rethinking Bretton Woods | Sat, Dec 1, 2012

The G20 Track Record in Disciplining the Financial Sector (December 2012)

In an article appeared in the last G20 Update – a newsletter published by the Heinrich Boell Foundation— RBW Project Director Aldo Caliari analyzes what has been the progress so far on the different areas of reform of the financial system pledged by the Group of 20.

The article surveys progress in the following areas: financial institutions which are “too big to fail”, derivatives, banking capital requirements, credit rating agencies, shadow banking, financial transparency and tax havens, and IMF reform.

US delay on implementing Basel III a victory for financial reform foes (November 2012)

Rethinking Bretton Woods | Wed, Nov 21, 2012

US delay on implementing Basel III a victory for financial reform foes (November 2012)

This article reports on the recent announcement by US regulators of a delay in implementation of the reforms to the banking capital requirements regime agreed by the Group of 20 almost two years ago.  (A slightly abridegd version of this article appeared on South-North Development Monitor SUNS, No. 7492, December 3 2012).

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