ICA and the Global Financial Crisis
Submitted by admin on October 27, 2008 - 1:01pm.
Business Model | ICA News | Public Policy
On 22 October, the ICA issued an open letter to the Governments of the G-8 reminding them that co-operative financial institutions are an alternative secure, stable and sustainable model of business owned and controlled by people.
The letter also calls on political leaders to protect the world's people from the worst effects of the global recession that are being faced today as a result of the corporate mismanagement of the investor led model of business; to ensure that in the struggle against recession, and in any reform of the global financial structures such as a new regulatory system, that G-8 leaders take special note of the stability and security of the co-operative global economy and its value to the millions of individuals and families which it is supporting in all corners of the world, and give this model of business the recognition and political support that its contribution demands; and finally to ensure a level playing field between countries and banking models, and take account of the diversity of banking systems in future rules.
