ITUC Leaders Welcome Sarkozy G20 Commitments

International Union Leaders in Davos Welcome Sarkozy G20 Commitments on Jobs, Financial Regulation and Tax

Brussels/Davos, 27 January 2011 (ITUC OnLine): Leaders of international trade union bodies at the Davos World Economic Forum meeting this week have welcomed the strong emphasis placed by French President Nicolas Sarkozy on tackling global unemployment and poverty, regulating the financial sector and introducing a financial transactions tax, in his speech to the Forum today. President Sarkozy, who currently chairs the G20 group, also insisted on stronger action against tax havens.

"Nicolas Sarkozy is right that the G20 has to coordinate action on these priority areas, to create jobs, tackle poverty and put the world onto a sustainable economic and environmental pathway," said ITUC General Secretary Sharan Burrow. "He was also right to take issue with bankers whose special pleading to stop much-needed financial regulation defies common sense. Bankers and financiers must begin to understand that they have a real responsibility for the real economy."

ENDS

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