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Press Release - European Attac Network

Freiburg, Germany, 12th of August 2011

Over 1200 gather in Freiburg to propose way out of financial chaos

More than 1200 activists from all over the world gathered at the Attac European Network Academy in Freiburg, Germany, between the 8-14th of August, to pursue alternatives to the turmoil-ridden global economic system. The dire situation of the world's financial markets is subject to substantial criticism by the participants.

'Attac is not here to say "we told you so" – even though we did tell you, and for years. We have concrete proposals for how to put people and the planet before outrageous profits for the few. These proposals will work, if given a chance," said Susan George, honorary president of Attac France.

'For more than a decade politicians have ignored our claims for democratic control over the financial markets, and even as discussions on the need for more regulation are taking place right now, the actual implementation of an Financial Transaction Tax and other regulatory tools is still far away. Despite beautiful speeches and world-embracing declarations at the G20 and other internationally influent fora, too little regulation has been put in place and even that little is coming far too late,' said Hugo Braun, one of the German organizers of the event.

Panic has returned to the financial markets. Given that the debt levels of USA and the EU countries have been common knowledge for a long time, the crash is proving once more the irrationality of the financial markets after the downgrading of the USA public debt. Rumors on the possible downgrading of French government bonds have further worsened the speculative trading.

'We call on all people: Get up from your tv and computer screens and join the movement that is building alternatives to the crisis and acting for a better world!. This is the best way to ensure that everyone can live a good life on an ecologically and socially sustainable basis,' concludes Benedikte Hansen, leader of Attac Norway.

Attac demands:
Immediate introduction of a financial transactions tax to curb speculation;

Immediate banning of all speculators and speculative instruments that threathen the economy and societies, including short selling and credit default swaps.

No to bail-outs for banks without conditions. Banks that can't survive on their own need to be taken over by public authorities and put under democratic control in order to serve the needs of the people and not the profits of private shareholders;

All financial institutions that are considered too big to fail must be divided into smaller entities;

No to austerity measures and yes to new sources of state income. Public services and investment must be restored, not reduced. Any fiscal measures that are implemented must be aimed at redistributing wealth and generating public revenues;

All public debt must be audited by a citizen-led impartial body. Illegitimate debt must be cancelled;

The European Central Bank must be subjected to democratic control. Its mandate must be revised so as to permit direct financing of the member states of the Eurozone.

For more information:


* Susan George, honorary president of Attac France,
* Hugo Braun, Attac Germany, +49 - 171 54 22 515
* Benedikte Hansen, Attac Norway, +47 - 915 87 423

Kontakt z ATTAC Polska: Piotr Kawiorski, piotr.kawiorski @

Na zdjęciu: Ewa Ziółkowska z Attac Polska przemawia na inauguracji Uniwersytetu Attac


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