Opinion Sur
The European Union pointed out that it will address the issue of vulture funds not in ‘inappropriate’ forums such as the United Nations General Assembly or its Human Rights Council based in Geneva. ‘We are not in favor of vulture funds and we share Argentina’s concern but we will not accept that the discussion of that issue is taken to international forums where politics and finance mix’. They prefer other ‘technical’ finance forums such as the World Bank, the Paris Club and the International Monetary Fund, but even when new regulations of sovereign debts are discussed there, they point out that their decisions should not be binding.
That is, the European Union claims finance must not be contaminated with politics, that there are technical forums and that regulations regarding sovereign debts should not be binding. So who is leading and guiding international finances? Because clearly some lead and manage them: those who are owners or managers of financial capitals. Does this mean that finance constitutes a dimension of the economic activity that is beyond the control of the global population? That only that fateful 1% of powerful privileged people will keep making decisions on extremely critical issues for the planetary development?
Why could not the governments of the world deliberate about such a crucial issue and then summon specialists of acknowledged and diverse ideological affiliation to outline specifications of the new regulations that would guide global financial functioning? Is it that only the governments of affluent countries, which are those who control the decisions of the World Bank, the Paris Club and the International Monetary Fund, can impose their stance and interests based on the discretional power they wield and are not willing to give up?
And how would the rights of 99% of the population be safeguarded if strict controls and regulations regarding financial functioning were not imposed on the remaining 1%? Or is it that just like in so many phases of human history peoples’ patience or submission is sought to be stretched until irritation bursts in an explosion of unpredictable nature and consequences? These are times in which European peoples should more than ever rise above short-sightedness and pettiness to transform the continental course towards the entire planet’s wellbeing.
Cordial Greeting.
The Editors
