Brussels, 08/01/2009
In his speech on globalisation and social justice, John Monks states that: {'We have witnessed the implosion of international financial capitalism. The reasons for which are clearer than the routes to recovery. One point stands out above the others – we are a long, long way from having created the political and regulatory institutions to help contain the risks of globalisation. We – and most of the world – may well have been beneficiaries of the open global economy. But these benefits will be quickly forgotten as millions in Europe and elsewhere face unemployment. The free movement of capital, goods and services will not survive if there is not a European and international response to deal with global risks – and if the alternative, a retreat into national fortresses is not to become inevitable (...). But more immediately, we must coordinate action to promote recovery. Otherwise protectionism and, who knows, social unrest, will become inevitable. We have had a reminder of the last phenomenon in Greece recently (...).
But we also need a New Social Deal in which the objectives are to develop a new system out of the rubble, a system which is less alienating, less divisive, fairer, less of a casino where the winner takes all. Immediately, we need to act on jobs, to help people in the labour market who have precarious jobs, and to stop regular jobs becoming more precarious. We call upon an EU-US partnership on sustainable development because we also need a New Green Deal (...).
What we also want is to include workers and unions in the New Social Deal by strengthening collective bargaining.’}
Further reading
John Monks’ speech on Globalisation and social justice, which he held at the Symposium ‘New world, new capitalism’ on 8 January 2009.
Conference podcast
To view the symposium's contributions, see its website.
