Publications
AK Background Paper: Derivatives - Definition and Need for Regulation
[12-07-2010]
Derivatives are agreements or contracts whose own value is derived from a reference value (underlying, base value). These reference values vary greatly and reach from commodities (food products and raw materials), share indices, exchange rates, interest rates up to weather development etc. The evaluation of the derivative depends on the development of this reference values; it can, however, (for example) move in the opposite direction (e.g. by speculating on falling share indices). They are forward purchase or similar transactions. These are structured in form of forwards, futures, options, swaps and their mixed forms, but also other constructions. One also differentiates between standardized or customized derivatives for individual cases.
Policy Papers | Economic
 | Main report |
AK position paper on Trade and Child Labour
[14-06-2010]
The Austrian Chamber of Labour (AK) welcomes the attempt of the EU to take more decisive action against Child Labour violations. Above all, it is a concern of the AK to oppose the exclusively incentive-oriented approach with regard to trade policies. It is therefore required to change the emphasis of the Council Conclusions from “trade incentives” to “trade measures”. The AK supports the examination of a list that records goods and services, which are produced or rendered using the worst forms of Child Labour (ILO Convention 182). In any case, from our point of view an important ban is also justified as a last consequence in case of violations.
Policy Papers | Economic
| Main report |
AK position paper on Generalised Tariff Preferences (GSP+) – Pakistan
[14-06-2010]
The Austrian Federal Chamber of Labour (AK) has for years supported the motion of only granting special preferences within the scope of the Scheme of Generalised Tariff Preferences (GSP+) if the relevant conditions have been met. Pakistan does not meet the requirements for the GSP+ for two reasons: she has not yet ratified all 27 of the required conventions and regularly and seriously infringes against already ratified ILO Core Labour Standards. As things stand now, AK opposes the currently discussed inclusion of Pakistan in the GSP+.
Policy Papers | Economic
| Main report |
AK position paper on the Financial Framework 2014+: Renewing structures, promoting a more social Europe!
[28-05-2010]
The Treaty of Lisbon and the economic and financial crisis demand new economic and social policy perspectives for Europe. The mistake must not be repeated that EU policies are predominantly oriented towards location competition and that large parts of the budget are allocated to particular interests such as agriculture. The EU citizens also want to see the realisation of a social Europe. That is why the objectives of the EU 2020 Strategy on employment and combating poverty have to be translated into action, hence they have to be considered in the next EU financial framework.
Policy Papers | Social - Economic
| Main report |
AK position paper on the Consultation of the EU commission on the results of the external study by Ernst & Young on the experiences concerning the European Company Statute
[27-05-2010]
Successful economic management requires trust and confidence. The current economic and financial crisis shows what happens if the trust into the economy and its regulatory framework has been lost. In particular the European Corporate Law bears a special responsibility to create a legal and regulatory framework, which considers the interests of stakeholders warranting protection, such as creditor and consumer protection as well as worker participation.
Policy Papers | Economic
| Main report |
AK position paper on the EU 2020 Strategy - Europe 2020 Integrated Guidelines
[26-05-2010]
The Europe 2020 Integrated Guidelines, presented by the Commission, will for years determine important policy areas at both European and national level. Their concrete scope and content is therefore of central importance for the success of the EU 2020 Strategy.
Policy Papers | Economic - Social
| Main report |
AK position paper: Demands of AK with regard to investments and investment protection in general
[25-05-2010]
Based on the Treaty of Lisbon, foreign direct investments are now also coming under Common Commercial Policy. This means that the EU develops common principles for European direct investments in third countries. AK therefore calls for addressing aspects to support sustainable development of foreign direct investments in the substance of Free Trade Agreements (FTA) and to transfer corporate accountability for the compliance with universal fundamental rights (human rights as well as core labour standards) to foreign investors.
Policy Papers | Economic
| Main report |
AK position paper on the EU-Canada Comprehensive Economic and Trade Agreement (CETA) – Sustainability Chapter
[08-04-2010]
In some respects, Canada’s proposals for a Sustainability Chapter are closer to our requirements than the EU Proposal. This is in particular the case with regard to the integration of ministers, the more developed dispute resolution procedure and above all the approach that violations against the agreed labour standards will finally be punished with significant fines. The Austrian Chamber of Labour (AK) regards it as particularly positive that the Canadian Proposal makes the integration of elements that go beyond core labour standards in the Free Trade Agreement mandatory (minimum wages, overtime payments, occupational health and safety and the equal treatment of migrants concerning working conditions).
Policy Papers | Economic
| Main report |
AK position paper on the Consultation on the International Financial Reporting Standard (IFRS) for Small and Medium-sized Entities
[19-03-2010]
The Commission intends to adopt the new standards “IFRS for SMB (IFRSSMB)” into European Law and now works within the scope of this consultation on the question, which role this new regulation will play in future within the framework of European Accounting. The Commission also prepares a study on accounting regulations for SMBs. The results of the study and the opinions from the consultation proceedings will flow into the revision of the Directives.
Policy Papers | Economic
| Main report |
AK position paper on the Trade and Investment Agreement between the EU and India
[15-03-2010]
We would like to point out once again that the AK is very critical of bilateral free trade agreements, as the benefit of such agreements for workers is not evident. We are against negotiations at bilateral level in particular with respect to investments, public procurement and services. Furthermore, the AK regards a comprehensive sustainability chapter as an essential part of a free trade agreement with India. This must include compliance with the eight ILO Core Labour Standards as well as the application of the general dispute resolution procedures.
Policy Papers | Economic
| Main report |
AK position paper: Yes to binding sustainability chapter! New codecision competence of the European Parliament for Trade Policy should be actively used for social and environmental standards!
[11-03-2010]
The coming into force of the Lisbon Treaty does significantly upgrade the role of the European Parliament (EP) in Trade Policy. This concerns both the information rights of the EP and its codecision competence. Hence, the Parliament will in future play a significant role in international relationships, provided these have a trade policy component. Thus, the political groups of the EP are getting the opportunity of raising their profile and to demand that labour and environmental minimum standards become the touchstone in the planned chapters on Sustainable Development for concluding trade agreements.
Policy Papers | Transport & Environment - Social - Economic
| Main report |
AK position paper on the continuation of negotiations with Columbia on an Association Agreement and on the state of negotiation concerning sustainable development (DS 1001/10)
[02-03-2010]
The European Commission has continued the negotiations on an Association Agreement with Peru and Columbia – in spite of the withdrawal of Bolivia and Ecuador. This contradicts the original intention, to conclude an agreement only with the entire Andean Community and puts the regional integration process at risk. Especially in Columbia the situation of human rights – in particular those concerning fundamental labour and trade union rights – continues to be extremely problematic.
Policy Papers | Economic
| Main report |
AK position paper on the draft report "Regulation of the EC on Community macro prudential oversight of the financial system and on establishing a European Systemic Risk Board"
[25-02-2010]
AK welcomes the efforts of the European Commission to institutionalize macroeconomic cooperation and supervision at European level, through which a looming systemic crisis should be recognized at an early stage.
Policy Papers | Economic
| Main report |
AK position paper on the proposal of the European Commission on the amendment of the Prospectus Directive of 24.9.2009
[21-01-2010]
In Austria, thousands of small investors have lost their entire or a large part of their savings because of the financial crisis. These losses were also made possible by the fact that investors were not (or not adequately) informed about the high-risk character of the investments, even though the capital market prospectuses had listed all possible risks.
Policy Papers | Economic - Consumers
| Main report |
AK position paper on the Comprehensive Economic and Trade Agreement EU-Canada (CETA)
[20-01-2010]
AK is very critical of bilateral free trade agreements as the benefit of such agreements is not obvious to the workforce. In particular with regard to the issues of investments, public procurement and services we are opposed to negotiations on a bilateral level. Furthermore, AK regards a sustainability chapter, which goes far beyond the previously discussed extend, as an essential part of a free trade agreement with Canada.
Policy Papers | Economic
| Main report |
AK Position Paper on the Draft Proposal on the Alternative Investment Fund Managers Directive and on the Amendment of Directives 2004/39/EC and 2009/…/EC; COM(2009) 207 final - Assessment of the Draft Report by MEP Jean-Paul Gauzès
[18-01-2010]
The Austrian Federal Chamber of Labour welcomes in principle the effort of the European Commission, to make an aspect of the currently mainly deregulated financial markets, namely the sale of alternative investment products, subject to regulation. Unfortunately, the result has not only turned out to be very minimalistic but was in parts even more watered down by the Amendment Applications of the Parliamentary rapporteur of the Committee on Economic and Monetary Affairs, Member of European Parliament (MEP) Jean-Paul Gauzès. This is true i.a. with regard to the sale of financial market products, where focus is set only on Alternative Investment Fund (AIF) resp. Alternative Investment Fund Managers (AIFM) located within the EU, whilst AIF resp. AIFM located in third countries are supposed not to be included in the Directive.
Policy Papers | Economic
| Main report |
AK position paper on the Communication of the European Commission: Ensuring efficient, safe and sound derivatives markets
[15-10-2009]
The AK is greatly concerned about the developments on the financial markets, which have a serious impact on the real economy and thereby on the workforce. It holds the view that regulation measures including the ban of certain products are urgently needed at European level to gain control of the economic crisis.
Policy Papers | Economic
| Main report |
AK position paper on the future competition law framework applicable to the motor vehicle sector - Block Exemption Regulation
[08-10-2009]
The Commission recognizes correctly that the motor vehicle industry and its component suppliers currently find themselves in a very difficult situation. One must, however, also take the situation of motor vehicle dealers into account who are interested in transparent and foreseeable regulations. Not least, however, the requirements of the consumers must also be sufficiently considered. They too need legal certainty and blanket supply with warranty and other services.
Policy Papers | Economic
| Main report |
AK position on the proposal for a directive on alternative investment fund managers (hedge funds and private equity)
[19-08-2009]
Up to the point where the current financial crisis got the entire world fully in its grip, the European Commission had rather been of the opinion that it would be best for the market of private equity and hedge funds to rely on the rationality of well informed market participants. The now intended step of the European Commission, only to regulate the fund managers but not the funds themselves, does not go far enough in the AK's point of view.
Policy Papers | Economic
| Main report |
AK position on the European Financial Supervision
[12-08-2009]
The AK is very worried about the developments in the financial markets, which have a tremendous impact on the real economy and as a result on the labour force. The AK is therefore of the opinion that urgent regulatory measures are required, including the ban of certain products at European level, to come to grips with the economic crisis. The AK and the European Commission both believe that a comprehensive granting of aid can only build trust if the cause of the crisis is analysed and channelled properly. The communication is thereby a first approach, which, however, has to be implemented in combination with other measures (regulation of hedge funds, control of derivative trading, stricter requirements for granting aid).
Policy Papers | Economic
| Main report |
Association Agreement EU-Central America and EU-Andean States; Proposed elements for a trade and sustainability chapter
[03-08-2009]
The AK welcomes the inclusion of a separate sustainability chapter to promote the adherence to ILO Core Labour Standards. It is, however, thereby vital to insist on the explicit obligation to ratify, implement and effectively adhere to all eight ILO Core Labour Standards by the Central American States and the Andean States. To ensure that these minimum labour standards will be adhered to in a binding manner, the general dispute resolution mechanism should also apply to the sustainability chapter.
Policy Papers | Economic
| Main report |
AK Statement on the “Consultation Paper on the Review of the Accounting Directives”
[13-05-2009]
The AK sees absolutely no necessity in simplifying accounting methods. Companies - including small and medium-sized enterprises - have to carry out relevant bookkeeping in any case. A simplification does therefore not have any benefits.
Policy Papers | Economic
| Main report |
Presentation of Jean-Pierre De Laet
[15-04-2010]
Presentation of Jean-Pierre De Laet on the occasion of the panel discussion "Who pays for the crisis? Is the EU ready for bank levies, bonus taxes & financial transaction taxes?" by AK EUROPA and ÖGB Europabüro on the 14th of April 2010 in Brussels.
Presentations | Economic
| Main report |
AK position paper on the Commission‘s consultation on the review of the Prospectus Directive
[02-04-2009]
The AK suggests improving information given to investors. In Austria, thousands of small investors have lost their entire or a major part of their savings because of the financial crisis. Their losses were also caused by the fact that investors had not (or not adequately) been informed about the degree of risk involved in their investments, although the capital markets brochures had listed all sorts of possible risks.
Policy Papers | Consumers - Economic
| Main report |
Special summit of the European Council
[26-02-2009]
Securing employment by stabilising the macroeconomic demand must currently be the most important task of economic policy. Fiscal policy has to let the automatic stabilisers take full effect. Additional measures have to be brought in to stimulate both private consumption and investments. Budget consolidation must - while the crisis lasts - take a backseat.
Policy Papers | Economic
| Main report |
Consultation paper on hedge funds
[13-02-2009]
A demand which has been coming for many years from workers’ representatives is now finally entering a new phase. The Commission has initiated a public hearing on hedge funds. AK EUROPA demands strict regulation of hedge fund activity and the inclusion of private equity funds in the regulatory framework.
Policy Papers | Economic
| Main report |
AK position on the White Paper on damages actions for breach of the EC antitrust rules
[17-11-2008]
The AK welcomes the fact that a public discussion on more efficient enforcement of damages actions is also being held on the strength of the comments made on the preceding Green Paper within the scope of the White Paper on hand.
Policy Papers | Economic
| Main report |
AK position on the ACTA negotiations
[07-11-2008]
With regard to the ongoing ACTA negotiations, the Federal Chamber of Labour (AK) sees a number of problematic aspects that affect the vital interests of Austrian citizens and consumers.
Policy Papers | Economic
| Main report |
Presentation of Jean-Pierre Paelinck
[13-05-2009]
Presentation of Jean-Pierre Paelinck on the occasion of the AK and ÖGB panel discussion on the topic "Wage Moderation for Managers" held on 11 May 2009 in Brussels.
Presentations | Economic
| Main report |
Presentation of Richard Murphy
[13-03-2009]
Presentation of Richard Murphy on the AK EUROPA "Expert Workshop on European Trusts" held on 12th March 2009 in Brussels.
Presentations | Economic
| Main report |
Taxation of foundations in Europe
[13-03-2009]
The fiscal privileges enjoyed by private foundations in Austria have recently become a topic of heated discussion once again. A new study of the Chamber of Labour in Vienna compares the taxation of European Private Foundations with interesting results.
Studies | Economic
| Main report |
Presentation of Stephan Schulmeister
[04-03-2009]
Von der Finanzkrise zur Sozialen Krise: Wo bleibt Europa?
Presentations | Economic
| Main report |
A single market for 21st century Europe
[21-02-2008]
AK advocates move towards a social single market policy
Policy Papers | Economic
| Main report |
A modern legal basis for European statistics
[20-02-2008]
A common position of the Austrian Social Partners
Policy Papers | Economic
| Main report |
Corporate Taxation in the European Union
[19-09-2007]
Tax competition and tax harmonisation
Studies | Economic
| Main report |
Application of certain national technical rules to products lawfully marketed in another Member State
[02-04-2007]
AK sees no evident need for a further regulation
Policy Papers | Economic
| Main report |
Green Paper on Trade Defence Instruments
[18-06-2007]
Social dumping should be answered by the use of trade defence instruments
Policy Papers | Economic
| Main report |
Study "Free Trade and Trade Unions of the Americas - Strategies, practices, struggles, achievements"
[23-09-2009]
Study by Global Labor Strategies - commissioned by the Chamber of Labour for Vienna - on the occasion of the AK EUROPA panel discussion on 22 September 2009 on the topic "Free Trade with(in) the Americas: Labour perspectives outside and inside the EU"
Studies | Economic
| Main report |
