Thursday, February 26, 2009

Concord Briefing on the impact of the Financial Crisis

The world economy is well into its worst crisis of a century. This is a crisis of the prevailing political and economic model of development focused so unilaterally on economic growth. This requires a deep questioning of some of the fundamental paradigms which have again been brought to the light by the crisis: the model of economic welfare through economic growth and unequal distribution of wealth and the overshoot of natural resources, both the renewable and the non-renewable.

This is a critical moment for global social and economic development. CONCORD is asking the European Union to take decisive action, not just to arrest the descent but to address the basic problems of distorted development that underpin these crises in the first place. There are some appropriate short-term responses, but that these must be accompanied by a search for fundamental changes in our economic and development models.

Briefing document (doc-file)

See also Euforic's newsfeeds on EU cooperation, on the Financial Crisis and on Concord