Finance Watch

Thierry Philipponnat, Ieke van den Burg

Finance Watch is a non- governmental organization ( NGO), which deals with the financial markets and their regulation. It is a non -profit ( AISBL ) under Belgian law and has its headquarters in Brussels.

Principle

According to the principles of Finance Watch, the financial sector has over the real economy, namely a important but subordinate function, namely providing capital and financial services for productive purposes. While it is legitimate and necessary to achieve also in finance profits, but the profits are not at the expense of society. Thus, they may the risks of loans, which deserves the financial sector can not be transferred to the Company. The aim of Finance Watch is ultimately the fact that the real economy, capital and financial services receives sustainable, fair and transparent. The Secretary-General and the main actor of Finance Watch, Frenchman Thierry Philipponnat says:

"We need banks that supply the economy with money. We do not need banks that bet on anything that moves. "

Foundation

The founding of Finance Watch on 30 June 2011 is based on an initiative from the summer of 2010 by MEPs, who are concerned with the regulation of financial markets and banks. The first signatories of the founding declaration of Finance Watch include: Burkhard Balz, Pervenche Berès, Udo Bullman, Leonardo Domenici, Pascal Canfin, Sergio Gaetano Cofferati, Elisa Ferreira, Jean -Paul Gauzès, Giegold, Robert Goebbels, Charles Goerens, Thomas Händel Eva Joly, Jürgen Klute, Philippe Lamberts. Secretary-General of Finance Watch Thierry Philipponnat, who had previously worked for major banks, including UBS, before he went to Amnesty International.

Budget compared to the banks

Finance Watch has a budget of 2 million euros annually. In comparison, the budget of the banks and insurance companies is their in Brussels 700 lobbyists, according to Finance Watch 400 million euros.

According to its website, the association was funded in 2011 by the following groups:

  • Adessium Foundation
  • Maecenata Foundation
  • Fondation pour le Progres de l' Homme
  • Novethic
  • Private donors ( 200 )
  • Members (54 )
Capital (economics) Sven Giegold Handelsblatt Frankfurter Rundschau Financial Times
334629
de