European Consultation, November 23

Towards a Just International Financial System

European Churches in the Process for a Democratic Control of International Financial Markets
International Conference, November 23-25, 2000, in Frankfurt/Main

Conclusions
AGENDA
WEDNESDAY, NOVEMBER 22

6 p.m. Supper
Informal get together and registrations

THURSDAY, NOVEMBER 23

Morning session: Towards a just international financial system
9:00 Welcome and introductions (Anja Osterhaus, Kairos Europa)
9:30 Theological reflection (Greetje Witte-Rang, Oikos)
10:00 Introductory position papers with discussion in plenary:

Visions and challenges from the South (Patrick Bond, South Africa; Chan Keun Lee, South Korea)

The need for the churches’ involvement from an economic and theological perspective in the context of existing processes (Bob Goudzwaard, WARC)

12:30 Lunch

Afternoon session: Instruments towards a just international financial system
Inputs with subsequent discussion
3:00 Chances and limits of the Tobin tax (John Dillon, ECEJ)
4:15 Coffee break
4:45 Chances and limits of the closure of tax havens (Gertrud Ochsner, AFP)
6:00 Supper
7:30 Frankfurt seen from below: Alternative guided tour with father Gregor Böckermann

FRIDAY, NOVEMBER 24

Morning session: Lessons from campaigns on financial markets
9:00 Reflection (Wolfgang Kessler, Publik Forum)
9:30 Lessons from Jubilee 2000

The Jubilee Campaign (Jürgen Kaiser, Germany)

Jubilee South (Neville Gabriel, South Africa)

10:30 Coffee break
10:45 Lessons from existing financial market movements

The ATTAC movement (Pierre Tartakowsky, ATTAC)
The Canadian campaign (John Dillon, ECEJ)
The German Financial Markets Network (Anja Osterhaus, Kairos Europa)

12:00 Evaluation and Conclusions
12:30 Lunch

Afternoon session:
What do we need in order to effectively mobilize the churches for this campaign?
3:00 How to link with ongoing processes?

Processes within international church organisations

World Alliance of Reformed Churches (Seong-Won Park, WARC)

World Council of Churches (Rogate Mshana, WCC)

International Conference Financing for Development and other upcoming events (Albert Gyan, Kairos Europa)

The Kairos Europa project: Stock taking (Anja Osterhaus, Kairos Europa)

4:00 Coffee break
4:30 Working groups

Networking within churches and alliance building
Liturgical and educational material
Churches as economic actors and financial investors
Media

6:00 Supper
Social evening

SATURDAY, NOVEMBER 25

Strategising: What are the next steps?
9:00 Exchange on the results of the working groups
10:00 Decision making on priorities and next steps
12:00 Arrangements for future cooperation
1:00 Lunch
Departure

Background to the Conference

"Is globalisation only to benefit the powerful and the financiers, speculators, investors and traders? Does it offer nothing to men, women and children ravaged by the violence of poverty?"

Nelson Mandela

In the past years, international finance capital has become the dominant force in shaping global economic relations, and the form and direction of economic development. The finance sector is moving more money across the globe in a day than the trade sector does in a month. Its basically unregulated, short-term oriented operations often undermine planned, long-term strategies of developing economies.

Following the dramatic events of the Asian, Russian and Latin American financial crises, a consensus has emerged that the regulatory vacuum in the area of finance needs to be addressed. But the debate is dominated by the international financial institutions (especially the IMF), the leading economic powers (the G7), investors, banks and giant corporations. It tends to exclude those who are most severely affected by the negative effects of financial globalisation and who have a real interest in a far-reaching reform of the international financial system.

Churches and church related organisations are challenged to declare their position in this debate and to contribute to the designing of a more just and democratically controlled international financial system that provides for a socially just and ecologically sound development worldwide.

Purpose of the Conference

With the scheduled conference the organisers want to

offer space for representatives of European churches, church agencies and Jubilee 2000 campaigns to exchange on the issue, listening to the demands and challenges of people from the South,
find a common strategy for getting involved in this debate in order to combine efforts and
define entry points and strategies for a European campaign of churches and church related groups and agencies on the international financial system.

On Thursday evening (November 23, 2000) a press conference and a public event will be organised. These events will be held in German but simultaneously translated into English.

Kontaktperson:
Anja Osterhaus
Kairos Europa, Hegenichstrasse 22, D - 69124 Heidelberg
Tel.: +49 (0)6221-712610, Fax: +49 (0)6221-781183, kairoshd@aol.com