(24 September 2013) 5 years ago Lehman Brothers went bankrupt starting a financial, economic and social crisis from which the US and Europe has not recovered with millions of workers unemployed and rising poverty. One of the main causes of banking crisis was the lax and lack of regulation that allowed banks to engage in dangerous speculative schemes fuelled on by a bonus and greed culture of its top bankers. EU institutions promised swift action so "it could not happen again". We are still waiting for many measures while in the meantime the financial lobby has remained strong blocking many of the policies needed. That is why EPSU co-signed a letter with many other civil society organisations that call for more urgency and more action to address the banking sector and to retrain and regulate the financial lobby. The group points out that the High Level Tax Platform is dominated by corporate interests and its advisers to avoid and evade taxes. The groups support the call for tax justice and getting back the 1 trillion EUR that corporations and rich individuals do not pay in taxes.
- The statement: www.corporateeurope.org with links to Italian, Spanish and German versions.
- For more information on the coalition that seeks to regulate lobbying
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