GERMAN, JAPANESE TRADE UNIONS PROPOSE WORLD FINANCE REFORMS. The German and the Japanese trade union confederations on Friday launched a joint initiative for reform of world financial markets and structures, particularly criticizing the IMF, AFP reports. "Reform of the IMF and a reorientation of its policies are of top priority," the trade unions-known as the DGB and the Rengo-said. They called for greater democratic control and accountability and an extension of IMF duties to include concern for "global welfare and fairer shares" and "We demand trade union representation for the IMF and the World Bank," the heads of the two organizations, Dieter Schulte and Washio Etsuya, said in presenting their proposals in Berlin.
They said the two institutions' policies should foster good governance, employment, and the fight against poverty, and not just be based on budget savings. IMF missions to countries must include talks with trade union representatives, they said, adding that public acceptance of the WTO depended on democratic participation of the people concerned by its actions. They demanded trade union representation on the WTO as well.
The trade union leaders had presented their proposals to German Chancellor Gerhard Schröder on Thursday, and the Japanese trade union leader is to present them to Prime Minister Keizo Obuchi on his return home. The proposals have been formulated with the G8 summit in Okinawa in July in mind. La Tribune (France) also reports.