Recent content by Myriam Vander Stichele

Why has there been so little progress or learning from the world's biggest financial crisis? What solutions could really put people back in charge of finance?

Until the European Commission shows it has learnt the lessons of the 2008 financial crisis and demonstrates the political will to re-regulate the financial sector, it will be unable to resolve the crises in Greece, Ireland and Portugal

Three years since the outbreak of the global financial crisis, the banks are back making mega-profits while the burden has clearly shifted to citizens and workers. However civil society action at European level could still make a difference in reining in the financial sector.

Behind the currency wars and the worsening global economic crisis lies a largely unquestioned free trade model that both contributed to the crisis and, without radical reform, is a major obstacle to overcoming it.

Financing Food focuses on how derivative markets work and on speculation in food and agricultural products. This study demonstrates how the futures market for agricultural products, in particular, has changed and is being disrupted by new speculators, growing index funds and commodities funds.

The financial crisis should be recognized as a very clear example of how the free trade and free market theory has failed, why the WTO should turn around away from this neo-liberal model and allow for all services and trade to be at the service of people and the planet, not of corporate profits.

The WTO's General Agreement on Trade in Services (the "GATS")  has very much underpinned expansion without regulation and supervision, so the financial corporations had the guarantee that their expansion would be underpinned. But financial services are not the same as other services – they need special supervisory structures.

The G20's continued push for trade liberalisation contradicts the same countries' assertion that markets, especially the financial sector, need further regulation.

Talk of the dangers of trade protectionism is used by European politicians to obscure the need for protection from transnational corporations whose control of European trade policy continues to cause negative social and environment impacts. Susan George and Myriam Vander Stichele debate MEP Ignasi Guardans and Chief Economist DG Trade, Gaspar Frontini, in TNI's Debating Europe series.
Three fact sheets on how despite talk of regulations of financial services in the North, the WTO and regional Free Trade agreements continue to impose financial liberalisation on the south.
While the financial crisis and its consequences are spreading around the world and even the most erstwhile ‘free market’ governments are discussing how to re-regulate the financial sector, bilateral and regional ‘free trade’ agreements continue extreme deregulation of the financial industry.
Since the current financial crisis started, none of the governments, experts or media who have called for new regulations for the financial industry have taken into account rules of the World Trade Organisation (WTO) which actually impose extreme financial service deregulation on many WTO member countries.
Does the greatest financial crisis since the Wall Street crash of 1929 mean that the 'capitalism as we know it' has reached its end? TNI panelists analyse the causes and consequences of the on-going global financial crisis and discuss its profound implications for a changed world order.
The collapse of WTO talks has brought the problems of the international trade system to the surface. It is now time to overhaul a 'free trade' system that protects corporate globalisation at the expense of poverty eradication and sustainability

The collapse of the WTO talks at the end of July 2008 was not a surprise.

Sir,

The correspondence between Sir Stephen Wright and John Cooke (22 July), Kavaljit Singh (July 29, 6 August) and Roger Brown (5 August) misses an important point, which is also lacking in the current discussions about the reform of the financial system after the subprime crisis emerged.

As the world is still assessing one of the most violent shocks in international financial markets ever, and measures to avoid future financial crises are still not in place, developing countries should be cautious of dangers associated with further liberalisation of their financial sectors.