Archive for November 2nd, 2011


Just Help the Banks, Not the Cooperatives!

Human Wrongs Watch

By Baher Kamal*

While European politicians are spending millions of euro on never-ending summits to seek the best way how to further fund their banks through new re-capitalisation plans, cooperatives silently gather over 800 million people in 100 countries, employing more than 100 million persons worldwide—that’s 20 per cent more than the multinationals, without due political, social or economic attention from politicians.

Credit: UN

And while the major banks have been causing continuos financial and economic problems after leashing the current global crisis, the largest 300 cooperatives in the world had an aggregate turnover of 1.1 trillion US dollars, comparable to the gross domestic product (GDP) of many large economies, according to three UN specialised agencies– FAO, IFAD and WFP.

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