Independent voice needed to balance lobbying of finance sector
Published: Tuesday, July 27, 2010
Banking interests make representations to legislators, but there is no organised counter analysis, writes Eithne Reid O'Doherty*
SOCIETIES ARE at a crossroads. The survival of democracy itself is being questioned due to the present financial instability, increased nationalism, protectionism and xenophobia - the same factors that led ultimately to the rise of fascism in Europe in the 1930s.
This is sharpened by the lack of balance in the debate on the financial crisis, which is amplified by the close connections between the financial and political elites. The quality of democracy has accordingly been diminished.
These themes were discussed at the annual conference of the European Women Lawyers Association on June 3rd and 4th in Brussels this year, which was on the theme, Law as Politics in Societies at a Crossroads.
The conference marked the 10th anniversary of the foundation of EWLA in Brussels in 2000. Folly, greed and a massive speculative frenzy have fundamentally changed our societies since then.
The EWLA conference held in Reykjavik in 2009, entitled European Lawmaking and Practice - Fundamental Rights and Financial Markets , also explored this theme of democratic stability.
On June 16th, 2010, a call was made to civil society from 37 European elected officials urging the formation of non-governmental organisations with the expertise to analyse and critique the activities of the main financial operators.
The underlying rationale for the call is that currently there is no organised counter analysis of financial activity or of emerging recovery policy and attendant legislation that could inform the media and make submissions to governments.
Financial sectoral interests can and do make representations to legislators. This asymmetry is not balanced by a counter opinion and as such poses a threat to democracy.
In environmental matters a bank of expertise has been developed which can counter corporate interests. A counter voice, through NGOs, has similarly arisen in the area of public health which challenge corporate or government interests.
* She is Ireland's Representative on the European Womens Lawyer's Association and the Secretary of the Irish Women Lawyer's Association.