The people’s pauperization and environmental destruction caused by the still-raging global financial crisis must be countered with people-centered policies and practices, international civil society groups told state leaders of Asia and Europe Tuesday.
EUOBSERVER / BRUSSELS - The European Commission is hoping to boost EU-Latin American relations with the creation of a joint forum that will bring together the two sides on a permanent basis and launch of a new investment fund. But civil society organisations and some Latin American officials believe Europe is steadily abandoning its support for regional integration on the EU model on the continent.
On the 3-4th of September in St. Petersburg a counter-summit, a large-scale international event that aims to be an alternative to the September G20 Summit and to develop new principles of economic and social policy that are not based on the "Washington Consensus" will be held.
The term crisis implies a short lived period of uncertainty - suggesting there is something temporary or anomalous about the current state of the global economy. On the contrary, our global economy, from the financial clouds (or bubbles) to the real roots - where men and women work, live and survive - is suffering from systemic flaws based on an ever expanding void between rich and poor.
In a recent editorial comment, The Economist issued a solemn call to all believers in global capitalism not to despair, not to panick, and to do nothing that could endanger the capitalist system (October 18-24, 2008). The magazine invoked the words and spirit of its founder, the Scottish businessman, James Wilson, who, about 165 years ago, gave the paper the philosophy of "economic liberty".