Brussels, 13/03/2007 (Agence Europe) - In the face of restructuring and the growing influence of hedge funds on companies, the European trade union world and the vice-president of the EP Socialist Group, Harlem Désir, together with his spokesman, Stephen Hughes, have called for strengthened social dialogue in Europe. Their vibrant appeal was made at the seminar organised in Brussels on 6 March on this problem by the EP Socialist Group.
John Monks, General Secretary of the European Trade Union Confederation (ETUC), plunged straight in saying: “The biggest danger facing workers today is not China, but the financial markets”. He stressed that, currently, “one-sixth of the private sector in the United Kingdom is controlled by investment or hedge funds whose sole 'raison d'être' is financial profit”. Dirk Bergrath, advisor to the European Metalworkers' Federation (EMF) said “this 'financialisation' of the economy presents a real problem to democracy”. He noted that the European works councils are consulted “in only 25% of cases”. The vice-president of Uni-Europa Finance, Edgard Ioza, took the view that “we do not have an effective regulatory framework allowing us to act”. Given this state of affairs, trade unionists have suggested a number of reforms on which they are particularly keen, saying: “Pre-emption of restructuring is essential”. At present, trade unions are kept informed “after the fact rather than about any future plans”, said Patrick Itschert, Secretary General of the European Trade Union Federation for Textile, Clothing and Leather, adding that this means: “we have no industrial vision of the company”.
Those taking part in the seminar also: - urged in favour of strengthening trade union presence within the European works councils; - felt that workers must have access to advice from experts outside the company in which they are employed; - and took the view that the European Commission should be more vigilant in its implementation of European law. (gb)