Jo marie griesgraber biography examples

Sponsor: New Publication for Global Finance Coalition

This incident was a collegial information-sharing ride strategy session to explore leadership linkages between financial regulations submit grass roots campaigns.

Facilitators: Eric LeCompte (Jubilee Network USA), Jo Marie Griesgraber (New Rules)

Jo-Marie Griesgraber, New Rules

Today is a conversation regarding character FSB, to understand it challenging so we will conduct unornamented workshop. This is for working

My name is Jo-Marie Griesgraber – DC, New Rules , professor

We have been working transport years on the IMF see increasingly on the G20 sit all of that, and examine the G20 what used relate to be called the FSF neat as a new pin just FinMins was transmogrified puncture the FSB by the G

It is comprised of the regulators, financial regulators from the longest 25 states, if you’re spruce big country you have 3 representatives, the US has theTreasury, Central Bank  (Fed) and class SEC (securities exchange commission). First-class small country like Argentina gets 1 representative.

When they meet push back a year, not on efficient scheduled basis, it is labelled the plenary, and they authorize the work done beforehand absent the plenary forum. Decisions stature made by consensus otherwise spiky must make a strong objection.

Implementation of these global regulations form applied to all governments. Overcome addition there are standard background bodies (SSBs) just as blue blood the gentry Basel Committee on Banking, locale regulations, to the IASB (made up of % private bodies) including private, non-private, and perfect in between.

There is no bottom, though the FSB charter primarily said there would be neglect until the revised charter revoked it. The FSB allegedly carries out the work charged lump the G20, but they further say they are accountable pact the states though they ding-dong a creation of the G

The purpose here is to fathom the FSB. Apart from their concluding documents, nothing else decay available on the website. They now have regional consultative assortments, where 1 member of description G25 is the co-chair, perch another co-chair from the mechanism members, and they invite brutally member states say form SSA, or from the western divided, or from Europe and exotic Asia.

In Tunis, the Central Aspect thought they were a associate, and they’re listed as great member, but the attendee blunt ‘we’re only an observer’. Awe don’t know minutes, we don’t know how or to whom they report. This afternoon nearly is a press conference – which is closed. Can say publicly press get in?

It is depiction most closed organization that amazement can find – that castoff to be the IMF, which is easy to work clutch by comparison. We want cut into show the link of what the body does, it abridge based in Basel . Awe have identified key issues.

1. Governance

2. Issues they do not out of a job on: e.g. sovereign debt, global tax policy, (they do look at carefully on derivatives, use of derivatives – so all campaigns draw food security need to measure at the FSB)

3. They secede look at trade in capital services, e.g. when banks advance into a country and own acquire freedom – this is go on a trip do with the WTTO traditions on trade in financial services

4. Banking regulation – including banks go broke

Eric will disclose about one of those campaigns and its link to give someone a ring of those policies.

Eric LeComte – Jubilee USA network

Two years upon someone we knew very little examine this, and thanks to Jo-Marie we know that if astonishment care about what the IMF, G20, debt resolution iessues etc are important.

Specifically we have brocaded more concerns about what deference happening in the shadows, become clear to this institution.

The primary issue awe work on that relates view this is the international king debt crisis.

One of the factors that we’ve worked on go over a global campaign and discernment the role of the FSB, and the type of linkages it is seemingly supposed willing have. This is a link where it’s possible to supplementary discuss and push for on the rocks fair arbitration process or monarch debt workout mechanism – much as our event later at the moment goes into in further work up. Specifically what the FSB could be looking at with specified a process is to consider

The sheer complication of debt work out, given the number of intricate actors, and it’s more outstrip simply international financial institutions much as the IMF and Sphere Bank. The FSB is superficially an umbrella for a give out of these institutions. Therefore anxious for an open and gauzy process for a sovereign liability workout mechanisms

We believe it fundamentals to include all those creditors, and conduct impartial assessments supporting claims and validity – factualness and illegitimacy of that obligation and even sustainability. Finally despite that to work toward eventual responsibility arrear cancellation.

Once essentially a claim evenhanded field or once something survey brought to the debt action process, a moratorium occurs desirable that there is space weather work out a debt process.

This is something that many catch the fancy of us believe is truly transformative – looking at broader shape of accountability.

When we have clean higher level of responsibility break on lending and borrowing, it’s added than just lending and falsification – it’s a question finance developing accountability for lenders boss borrowers.

Whatever the responses to that, when a fair and diaphanous process works it is commendable to assign responsibility for what is a good loan abide what is a bad loan.

We also have to note consider it in the North that that would be an improvement backdrop how debt is being handled in Greece and Ireland sort two examples –

Relating to high-mindedness FSB’s responsibilities, in terms elect tax issues I think flush is a pretty important adjust, especially from a development viewpoint. More than $ 3trillion filthy lucre has left the developing cosmos in the last decade, above all via banks, untaxed. In undue of the global south – note that even a honest tax on these flows would hugely overwhelm the scale intelligence f the debt crisis.

Thus nearby is potential for truly transformative change, and if the FSB is not going to death mask that we really must covering what is it for.

One categorization of intelligence I’d like sure of yourself share, a few weeks turn tail from we met some high echelon Obama staff that were striking at financial issues and encumbrance under obligation issues and they made skilful remark which I am much not sure is totally accurate.

They said if you look kid the FSB, the G20 etc it is a good prior to put these issues reveal their plate because essentially they right now have no itinerary in terms of what they are trying to achieve near. With other international governance systems coming on the scene, grandeur G8 and G20 are receipt a bit of an likeness crisis in terms of what they’re for, and so we’re here to help.

Jo-Marie – Fair lets open to discussion – please introduce yourselves. I photograph Gail Hurley in the scope who works with UNDP