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The past few months have seen one of the most significant financial crises in history. World leaders have recognised the need to reform the global financial system and its institutions. Yet the reforms being proposed include more big business bail outs and giving greater power and legitimisation to institutions such as the IMF and World Bank which bear a big part of the responsibility for this financial crisis, along with the climate, food and energy crises.
The real challenge posed by this global financial crisis is not to stabilise the system and return to business as usual; it is to chart a new course towards economic stability, fairness, justice, and environmental sustainability.
If we can bring together our common concerns to address the roots of this economic crisis – the concentration of wealth and economic control in the hands of a few, the unmitigated and irresponsible abuse of the earth’s resources, the exploitation of labour, and continuing and deepening impoverishment of the majority – then this crisis can be a catalyst for change.
Find out more about how civil society across the world is responding to the demand for reform of the global economic system:
1. Global Call to Action to Demand a New Economic System
2. Statement on the proposed “Global Summit” to reform the international financial system – International Sign-on Statement
3. New Principles and Rules to Build an Economic System that Works for People and the Planet – International Sign-on Statement