Bob Harris, EI's Senior Consultant to the General Secretary, shares information and commentary on the impact of the financial crisis on education funding, and how education can be part of the solution.
G8 Finance Ministers put out a mildly optimistic statement on Saturday, after their meeting in Italy. They see a recovery of stock markets and improved business and consumer confidence. They recognize, however, that “we are in the middle of the worst crisis since the Great Depression”, and that the situation remains uncertain with significant risks.
This mild optimism does not reflect reality. The day before, John Evans, TUAC General Secretary, told the Council of Global Unions that unemployment will double over the next two years. The optimistic projections coming out from Finance Ministries, the IMF and the OECD all assume that the banking system will start working again. This is not happening. The view that recovery will come soon is based on no rational analysis, but rather on wishful thinking. Unemployment figures just received by ILO and OECD confirm this reality. ILO has revised its estimates again, now up to 59 million extra unemployed. OECD reported an increase in unemployment of 7.8% in the OECD countries in April alone.
Guy Ryder, ITUC General Secretary, reported to the CGU General Secretaries on Friday that the situation had become more not less bleak. “I am increasingly concerned that we may be sleepwalking into something horrific, not just for 2 or 3 years, but for the next 2 or 3 decades” Guy said.
G8 Development Ministers also met in Rome on Friday.
Link: Summary of global unions’ view http://www.actionforglobalhealth.eu/news/g8_representatives_of_civil_society_met_minister_frattini
This mild optimism does not reflect reality. The day before, John Evans, TUAC General Secretary, told the Council of Global Unions that unemployment will double over the next two years. The optimistic projections coming out from Finance Ministries, the IMF and the OECD all assume that the banking system will start working again. This is not happening. The view that recovery will come soon is based on no rational analysis, but rather on wishful thinking. Unemployment figures just received by ILO and OECD confirm this reality. ILO has revised its estimates again, now up to 59 million extra unemployed. OECD reported an increase in unemployment of 7.8% in the OECD countries in April alone.
Guy Ryder, ITUC General Secretary, reported to the CGU General Secretaries on Friday that the situation had become more not less bleak. “I am increasingly concerned that we may be sleepwalking into something horrific, not just for 2 or 3 years, but for the next 2 or 3 decades” Guy said.
G8 Development Ministers also met in Rome on Friday.
Link: Summary of global unions’ view http://www.actionforglobalhealth.eu/news/g8_representatives_of_civil_society_met_minister_frattini
Education International 2009
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