PES Manifesto

Politics must not underestimate itself

Published Sunday, November 9, 2008 at 15:31
by mochinho (381 views and 0 comments)

This claim may be the essence of the discussion which the German Member of the Federal Parliament, Ortwin Runde (SPD), had invited to in Hamburg, Germany, on 2008-11-06. Subject of this evening meeting was how the current financial crisis could be mastered. As special guests Runde could welcome trade union chairman Michael Sommer (DGB), Knut Fleckenstein (SPD, Member of the Hamburg Parliament, MEP candidate 2009), and the former Secretary of State Dr. Cornelie Sonntag-Wolgast (SPD).

The panel reminded that today’s measures towards the financial crisis were against the zeitgeist of the last 30 years which were neo-liberal or market-radical then. People claiming these tools had been laughed at and been put aside. Obviously the current crisis will affect the small people in the end. Therefore the SPD and the trade unions have to back these people and develop a convincing socio-financial policy. The panel was of the opinion that the economy has to be democratically controlled and that the state should use and demand its influence. No one doubted the (social) free-market economy, but the panel saw today’s world economy as a kind of casino capitalism. The debaters argued that the former German red-green government had its share in the problematic developments in Germany. However, that government had been fallen victim of the former zeitgeist, but could withstand a total subjection under pure economic interests, e.g. in the field of consumer protection.

The panel underlined that a financial infrastructure is part of the public service. Threats to it have to be warded off in the first place and then been eliminated at the roots. An adequate protective measure could and should be the European social model as the European social democracy wants it. Then it might be possible for the political globalisation to close the ranks to the economic one. Tax oasises were responsible for the crisis as well and should therefore be dried up, i.e. financial market rules should be valid everywhere in the world.

The debaters demanded a European wide and coherent supervision of the banks, especially the ECB and including rating agencies. Runde preferred a European approach and spoke e.g. for a European financial transaction tax. The public banks have to stick to their original functions and should not behave like private banks.
Sommer took sides for direct public investments in the public infrastructure and rejected a policy which focuses only on supply. Furthermore the DGB chairman called for a better corporate social responsibility and a rise in wages. A policy of growth and not only saving was the better solution, argued the panel which focused on national economy and not only on business management.

Sonntag-Wolgast closed the discussion with the statement that it is the hour of the governments and the parliaments now.

Tags: candidates, citizens, democracy, employment, financial crisis, globalization, PES