Publications
Transatlantic Free Trade Agreement (TAFTA) – Free Trade Agreement of the EU with the United States
[02-05-2013]
The BAK therefore urges the EU Commission, to make important documents of public inter-est, such as the drafts for negotiating mandates to the EU Commission, available for a broad public debate.
Policy Papers | Economic
 | Main report |
Position paper on the Annual Growth Survey 2013
[21-02-2013]
On 28 November 2012, the European Commission presented its Annual Growth Survey 2013, which launches the third policy co-ordination cycle of the European Semester.
Policy Papers | Economic
| Main report |
“Towards a Genuine Economic and Monetary Union”, Report by the President of the European Council
[18-01-2013]
The European Union, and in particular the Eurozone, are faced with enormous problems: economic output is once again in decline and unemployment is constantly reaching new heights. Instead of effectively tackling the causes of the financial and economic crisis, the European Union’s exit strategy failed, undermining the potential for growth and employment.
Policy Papers | Economic
| Main report |
ÖGB and BAK Position on the award of concession contracts
[17-01-2013]
The Internal Market and Consumer Protection Committee (IMCO) of the European Parliament will vote on the proposal for a Directive on the award of concession contracts within the next few days. Eleven members of the IMCO Committee from five different political groups have tabled amendments to reject the Commission proposal.
Policy Papers | Economic
| Main report |
EU Free Trade Agreement with Columbia and Peru as touchstone for trade union rights
[02-11-2012]
We would like to draw your attention to the further treatment of the Free Trade Agreement with Columbia and Peru. In spite of the serious and repeated objections of the international trade union movement, the EU-Parliament has been asked to vote on an extremely problematic negotiation outcome.
Policy Papers | Economic
| Main report |
Proposal for a Directive on Insurance Mediation
[11-09-2012]
BAK welcomes the intention in the proposal to strengthen consumer protection and to extend the scope of application to insurance undertakings.
Policy Papers | Economic - Consumers
| Main report |
EU-India Free Trade Agreement: sustainability-relevant aspects
[05-09-2012]
The BAK is basically very critical of trade liberalisations. However, it prefers the multilateral process, which primarily includes developing countries, to bilateral free trade agreements.
Policy Papers | Economic
| Main report |
Commission Proposal for a Directive on amending Directive 2006/43/EC on statutory audits of annual accounts and consolidated accounts and for a Regulation on specific requirements regarding statutory audit of public-interest entities
[03-09-2012]
Policy Papers | Economic
| Main report |
Directive of the European Parliament and of the Council on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings
[03-09-2012]
In October 2011, the Commission presented a new draft Directive, in which the financial reporting standards for small and medium-sized entities of the current 4th and 7th Directive shall be revised and consolidated.
Policy Papers | Economic
| Main report |
Proposal for a Regulation on the exercise of the right to take collective action within the context of the freedom of establishment and the freedom to provide services
[28-06-2012]
The ECJ judgments concerning the relationships between market freedom and fundamental trade union rights of 2007 and 2008 revealed the fault lines which run between the single market and the social dimension achieved at the national level.
Policy Papers | Economic
| Main report |
Consultation on Bank Accounts
[22-06-2012]
The AK appreciates this opportunity to express its views on issues pertaining to bank accounts, a major financial service product, as part of this consultation process. We hope the European
Commission will pick up our ideas and suggestions.
Policy Papers | Economic
| Main report |
Proposal for a Directive on the award of concession contracts
[05-06-2012]
The AK is opposed to the proposed legislative act on concessions and considers the current legal situation to be sufficient to find a positive result. Due to being exempt from the scope of procurement directives and based on ECJ jurisdiction, a definition of service concessions as well as the clarification that the fundamental principles of primary law will also apply to concessions already exist.
Policy Papers | Economic
| Main report |
Assessment of the suitability of the International Public Sector Accounting Standards for the Member States - Public consultation
[25-05-2012]
To begin with, it has to be pointed out that concerning the suitability of IPSAS for the budgetary rights of the Member States of the European Union, many Member States, including Austria, already orientate their budgetary rights towards individual IPSAS.
Policy Papers | Economic
| Main report |
Common provisions on European Funds and specific provisions concerning the European Regional Development Fund and the Investment for growth and jobs goal
[16-05-2012]
In the wake of the financial crisis 2008, which hugely increased the economic and social imbalances in Europe, the EU has to deal with big socio-economic challenges. Austerity measures, introduced by a number of Member States, even aggravate the situation, resulting in the fact that broad sections of the population - both in urban and rural regions - are affected or threatened by unemployment.
Policy Papers | Economic
| Main report |
Legislative proposals of the Commission on credit rating agencies
[08-03-2012]
The European Commission aims at remedying problem areas relating to the activities of credit rating agencies. The concrete proposal includes the amendment of three EU Directives: Directive 2009/65/EC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS), Directive 2011/61/EC on Alternative Investment Fund Managers (AIFM) as well as the Regulation 1060/2009/EC on credit rating agencies.
Policy Papers | Economic
| Main report |
AK position paper for a Regulation on a Common European Sales Law (CESL)
[23-02-2012]
In its opinion of February 2011 on the Green Paper on “Policy options for progress towards a European Contract Law for Consumers and Businesses” the Austrian Federal Chamber of Labour (AK) already objected to a binding form of the European contract law instrument. The AK would like to reaffirm this approach with regard to the Regulation on a Common European Sales Law, which has now been presented by the Commission.
Policy Papers | Economic - Consumers
| Main report |
AK Position Paper on the Proposal concerning statutory audits (Directive and Regulation)
[23-02-2012]
The measures by the European Commission on restoring confidence in annual statutory audits include a proposal for a Directive of the European Parliament and the Council on amending Directive 2006/43/EC on statutory audits of annual accounts and consolidated accounts on the one hand, and a proposal for a Regulation of the European Parliament and the Council on specific requirements regarding statutory audit of public-interest entities on the other.
Policy Papers | Economic
| Main report |
Challenge Area Financial Market Reform
[26-06-2012]
The causes of the financial crisis arose long before the property bubble in the USA burst in 2006.
Studies | Economic
| Main report |
Draft opinion of the Economic Committee of the European Parliament for a Markets in Financial Instruments Directive (MiFID) to abolish Directive 2004/39/EC (“Ferber-Report”) – evaluation and draft amendments
[13-02-2012]
The instability of the European and global financial markets has a severe impact on the
European workers and taxpayers. Therefore, AK closely follows the regulatory efforts of
the European Commission and the European Parliament.
Policy Papers | Economic
| Main report |
Growth friendly fiscal consolidation – the Austrian experience
[13-02-2012]
Presentations | Economic
| Main report |
Re: Plenary vote on the FTT
[03-02-2012]
The Austrian Federal Chamber of Labour (BAK) urges you to vote in favour of the Podimata
report on the “Proposal for a directive on a common system of financial transaction tax
(FTT)” at the plenary session on 23 May.
Policy Papers | Economic
| Main report |
AK position on the COM(2011) 684 final “Directive of the European Parliament and of the Council on the annual financial statements, the consolidated financial statements and related reports of certain types of undertakings”
[25-01-2012]
The Commission intends to review the 4th and 7th Directive. The objectives referred to concern a reduction of the administrative burden for small companies, the increase of clarity and the improvement of the comparability of companies, the protection of essential user needs - in particular the provision of the necessary accounting information - and finally the increased transparency on payments to governments by the extractive industry and loggers of primary forests.
Policy Papers | Economic
| Main report |
AK position on the Proposal for a Markets in Financial Instruments Directive to abolish Directive 2004/39/EC
[17-01-2012]
From the point of view of the AK, the review of the MiFID Directive is one of the top priorities in order to achieve a reorganisation of the financial markets in accordance with the G20 decisions. Unfortunately, the European Commission has submitted little more than a compromise paper that represents the smallest common denominator derived from the overly powerful wishes of financial institutions and poorly represented small shareholders.
Policy Papers | Economic
| Main report |
Basel III - Capital Requirement Directives COM(2011) 453 final (CRD IV) and COM(2011) 452 final (CRR)
[16-01-2012]
The AK would like to convey the following statement on the proposal of the Commission for a Directive of the European Parliament and of the Council on the access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms and amending Directive 2002/87/EC of the European Parliament and of the Council on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate (CRD IV; COM(2011) 453 final) and on the proposal of the Commission for the Regulation of the European Parliament and the Council on prudential requirements for credit institutions and investment firms (COM(2011) 452 final):
Policy Papers | Economic
| Main report |
AK position on the Reform of the EU State aid rules on services of general economic interest
[08-12-2011]
Public services have proven to be both a social buffer and shock absorber for the effects of the economic and financial crisis, in particular for those people, who have been hit hardest. The recent events should also have strengthened the belief of the Commission and the European decision-makers in a welfare model furnished with adequate financial resources.
Policy Papers | Economic
| Main report |
Reform of the EU State aid Rules on services of general economic interest
[07-12-2011]
The Austrian Association of Cities and Towns (ÖSTB), The Austrian Association for Public and Social Economy (VÖWG) and the Austrian Federal Chamber of Labour (BAK) are vehemently opposed to the intention of the Commission to hastily adopt the new State aid package for services of general economic interest (“Almunia Package”) without engaging in a comprehensive discussion process.
Policy Papers | Economic
| Main report |
Proposal for a Regulation of the European Parliament and the Council on insider dealing and market manipulation (market abuse) and for a Directive of the European Parliament and the Council on criminal sanctions for insider dealing and market manipulation
[06-12-2011]
The Austrian Federal Chamber of Labour (BAK) is the legal representation of interest for about 3.2 million employees and consumers in Austria. It represents its members in all social, educational, economical and consumer policy matters both at national and Brussels EU level.
Policy Papers | Economic
| Main report |
Proposal for a Regulation on markets in financial instruments and amending of the European Market Infrastructure Regulation (EMIR) on OTC Derivatives, central counterparties and trade repositories
[05-12-2011]
The AK welcomes the objectives specified by the Commission in the draft regulation, namely the creation of uniform legal requirements on different types of trading venues for financial instruments, the avoidance of regulatory arbitrage, the provision of more legal certainty and a reduction in the complexity of the Regulation.
Policy Papers | Economic
| Main report |
AK position paper on the Draft Directive of the European Commission on Energy Efficiency – Vote on the draft of Rapporteur Turmes
[15-11-2011]
The EU Commission has presented a new draft Directive on Energy Efficiency. The energy efficiency target contained therein of 20 % continues to remain non-binding; however, the measures to achieve this target are supposed to be binding. The planned compulsory measures include among other an energy saving target of 1.5 % for energy providers or network operators, as well as a 3 % annual renovation rate for public buildings.
Policy Papers | Economic
| Main report |
Labour market monitor 2011 – a yearly, EU-wide system to watch labour market developments
[01-11-2011]
The labour market situation in the European Union is watched on the basis of regularly updated Eurostat- key indicators. In particular the unemployment rate receives special attention and is frequently put on a level with the overall performance of a labour market. However, the unemployment rate merely shifts the attention of policy makers and the public on this one specific, albeit important facet of labour market performance.
De facto participation and earnings opportunities and the structure of labour markets within the Union are diverse, making a straight forward cross-country monitoring over time complex.
Studies | Economic
| Main report |
Labour market monitor 2011 – a yearly, EU-wide system to watch labour market developments (short version)
[01-11-2011]
The labour market situation in the European Union is watched on the basis of regularly updated Eurostat- key indicators. In particular the unemployment rate receives special attention and is frequently put on a level with the overall performance of a labour market. However, the unemployment rate merely shifts the attention of policy makers and the public on this one specific, albeit important facet of labour market performance. De facto participation and earnings opportunities and the structure of labour markets within the Union are diverse, making a straight forward cross-country monitoring over time complex.
Studies | Economic
| Main report |
AK position to the Commission proposal on the Multiannual Financial Framework from 2014
[22-09-2011]
The Austrian Federal Chamber of Labour (AK) has carefully examined the Commission proposal on the Multiannual Financial Framework from 2014 (Communication: “A budget for Europe 2020” (COM (2011) 500 final) as well as the proposal for a Council Decision on the system of own resources of the European Union (COM (2011) 510 final), both of which were submitted on 29.6.2011.
Policy Papers | Economic
| Main report |
Green Paper of the European Commission: European Corporate Governance Framework
[25-07-2011]
To begin with, the AK would like to make the point that the Corporate Governance Standards, which are based on voluntary codes of conduct, have significantly contributed to the financial and economic crisis. Companies mainly acted on the principle that everything which is not forbidden is allowed. The lack of legal norms with clear sanctions in case of non-compliance resulted in losses in the billions for companies and in the loss of many thousand jobs.
Policy Papers | Economic
| Main report |
Access to a basic account – Withdrawal of planned legislative measure
[17-08-2011]
The Austrian Federal Chamber of Labour (BAK) and many social institutions and consumer organisations throughout the European Union welcomed the Commission to take legislative action on access to basic banking services for all EU citizens or persons residing in the EU. The Commission has now decided only to give a recommendation instead of taking legislative action. BAK views this step as insufficient and disappointing for many working class people and consumers.
Policy Papers | Consumers - Economic
| Main report |
AK-position paper on the Legislative package of the Commission on strengthening economic governance
[10-06-2011]
We would like to take the forthcoming resolution of the legislative package of the Commission on strengthening economic governance as an opportunity to once again bring our position to your attention. From the point of view of the AK, there are still serious concerns in respect of the legislative package in its present form.
Policy Papers | Economic
| Main report |
Agricultural income in Austria and in the European Union
[26-05-2011]
A new factsheet of AK Vienna examines the agricultural income in Austria and the European Union. The distribution of income and assets in the agricultural sector are analysed in the paper.
Studies | Economic
| Main report |
Communication of the Commission on the EU Raw Materials Strategy “Tackling the challenges in commodity markets and on raw materials”
[18-04-2011]
The AK welcomes the inclusion of the topic concerning the financialisation of the raw material markets into the EU Raw Materials Strategy and the considerations in respect of transparency, tightening the reporting obligation as well as introducing position limits. In order to achieve more transparency in this sector, the AK demands a ban on so-called OTC transactions (Over The Counter) and supports the mandatory trade through stock exchanges.
Policy Papers | Economic
| Main report |
Consultation of the European Commission concerning the revision of the Financial Instruments Directive (MiFID Directive)
[01-04-2011]
The European Commission has initiated a Consultation on the MiFID at the beginning of the year. It plans to present a bill for June 2011.
Policy Papers | Economic
| Main report |
“Services of General Interest in Bilateral Free Trade Agreements” - Reflection Paper of the European Commission
[24-03-2011]
The European Commission has presented a Reflections Paper on Services
of General Interest in Bilateral Free Trade Agreements. The latter aims to reframe the understanding and treatment of public services in future trade negotiations. In this context, two proposals are particularly problematic.
Policy Papers | Economic
| Main report |
Annual Growth Survey: advancing the EU’s comprehensive response to the crisis
[23-03-2011]
On January 12 th, 2011 the Commission has presented the Annual Growth Survey (with the additional title: “advancing the EU’s comprehensive response to the crisis”) in conjunction with three appendices (Progress Report on Europe 2020, Macro-economic Report, Draft Joint Employment Report).
Policy Papers | Economic
| Main report |
Consultation document of the European Commission - Counterparty credit risk
[22-03-2011]
Workers have a massive interest in a robust economic development, a solid public budget and in fair wealth distribution. An important prerequisite for all of these is an adequately regulated and stable financial market.
Policy Papers | Economic
| Main report |
Legislative proposals of the Commission to strengthen economic governance
[02-03-2011]
The Austrian Federal Chamber of Labour (AK) generally welcomes the discussion to strengthen economic governance within the EU. However, from the point of view of the AK, the concrete proposals of the Commission on the reform of the Stability and Growth Pact (SGP) and the correction of macroeconomic imbalances are not target-oriented in a number of key respects.
Policy Papers | Economic
| Main report |
Assessment and comment on the consultation to the „White Paper on Insurance Guarantee Schemes”
[12-01-2011]
The AK welcomes the intention of the European Commission to propose the establishment of an EU-wide Insurance Guarantee Scheme.
Policy Papers | Economic - Consumers
| Main report |
Communication of the Commission on Trade, Growth and World Affairs – Trade policy as a core component of the EU’s 2020 Strategy
[20-12-2010]
The AK is still critical of the present Communication of the Commission, which abides by its forced market access strategy within EU trade policy.
Policy Papers | Economic
| Main report |
Recast of directive 94/19/EC on Deposit Guarantee Schemes
[20-12-2010]
In view of the experiences with the dramatic developments of the 4th quarter 2008, the AK wonders whether a predominantly ex-ante financed fund represents the adequate solution for preventing a bank run, as in systemic crises the funds would be subject to the same capital market risks as other investors.
Policy Papers | Economic - Consumers
| Main report |
AK Position on the Proposal for a Regulation on OTC derivatives, central counterparties and trade repositories
[07-12-2010]
Employees have a huge interest in a robust economic development, a solid public budget and in a fair distribution of wealth. For all of these, an adequately regulated and stable financial market is an important condition.
Policy Papers | Economic
| Main report |
AK Position Paper on the Proposal for a regulation of the European Parliament and the Council on Short Selling and certain aspects of Credit Default Swaps
[24-11-2010]
The AK basically welcomes the initiatives of the European Commission, which have been pursued on the basis of the G20 decisions to correct the deregulation and liberalisation of the financial markets, both of which were introduced at the beginning of the eighties of the last century.
Policy Papers | Economic
| Main report |
EU Initiative on Concessions
[03-11-2010]
The Commission already proclaims in the questionnaire the target of an envisaged initiative: the objectives named are aimed at ensuring competition and access to the market for foreign applicants in the sector of concession contracts; at guaranteeing legal security, transparency and equal treatment for economic operators and at developing Public Private Partnerships.
Policy Papers | Economic - Consumers
| Main report |
Do higher tax ratios result in lower economic growth?
[14-10-2010]
The idea to conduct this study was born at last year’s European Forum Alpbach around the issue of tax ratios and economic growth. Several economic researchers started their speech by stating that a rise of tax ratios by so-and-so many percentage points would result in a decrease of the growth rate by so-and-so many percentage points. They did as if this postulate was a law of nature, and obvi-ously, it also seemed perfectly evident to the journalists and politicians present: They saw no need to question it at all.
Studies | Economic
| Main report |
AK position paper on the Green Paper: Corporate Governance in Financial Institutes and Remuneration Policies
[07-10-2010]
The AK welcomes the analysis of the Commission concerning the causes of the financial crisis. The shortcomings of Corporate Governance within financial institutes, which were exposed because of the financial crisis, were addressed in a very clear and open manner. In addition to the already known weaknesses in the area of “checks and balances”, the role of shareholders has also been critically assessed for the first time. The continuously growing shareholder category with an extremely short investment horizon (three to six months) is more and more becoming a problem, as this group is only interested in short-term capital gains for which it accepts even greater risks. In connection with the shareholder value approach, which has been enforced for years - also by the Commission - namely the alignment of interests of shareholders and management through remuneration models, which are increasingly oriented towards share prices, the ground had been prepared for increasingly riskier business models.
Policy Papers | Economic
| Main report |
AK position paper on Regulatory Aspects of Smart Metering for Electricity and Gas
[05-10-2010]
In view of the extremely euphoric expectations on the performance of the so-called smart meter, the AK is very sceptical whether these can be fulfilled. This scepticism is fuelled by the expected costs associated with its introduction and operation; as it stands, figures of 1.8 billion Euros have been named for Austria. At national level, a wide range of institutions have already prepared cost-benefit-analyses, some of which seem to indicate very high energy saving potentials. Unfortunately, these analyses were prepared in anticipation of the cost-benefit analysis recommended in Recommendation 14 of the ERGEG and do not consider at all the comprehensive coverage of the entire added value chain - from producer to consumer - but only focus on individual sectors.
Policy Papers | Consumers - Economic
| Main report |
AK position paper on the Investment Package of the European Commission: Towards a comprehensive European international investment policy; Transitional arrangements for bilateral investment agreements
[09-09-2010]
With the entry into force of the Lisbon Treaty on 1. December 2009, the individual EU Member States have transferred the competence to negotiate international agreements on Foreign Direct Investments (FDI) to the EU. With its Communication and Regulation, the European Commission has initiated the discussion on the future European Investment Policy. The AK welcomes this initiative. It provides the opportunity to reconsider the policies of individual Member States in the spirit of the Lisbon Treaty and to reconcile the future European Investment Policy with the comprehensive goals of the Union in order to ensure policy coherence.
Policy Papers | Economic
| Main report |
AK position paper on the Monti Report: A New Strategy for the Single Market
[01-09-2010]
The analysis of the Report has to be welcomed in many aspects. The AK shares the opinion that a social shift with regard to the European Union’s Single Market policy is required - in the words of Mario Monti: “The market is a good servant, but a bad master”. Consequently, the Single Market is not a purpose in itself, but a means to achieve social progress and full employment.
Policy Papers | Economic
| Main report |
AK position paper on the Public Consultation on a Future Trade Policy
[18-08-2010]
The AK supports the idea of strengthening the European Neighbourhood Policy. It prefers multilateral WTO negotiations to bilateral free trade negotiations (FTA) currently held by the EU and insists on policy coherence in trade policy concerning the compliance with international agreements in particular with regard to human and labour rights. Basically, liberalisations require redistribution mechanisms so that the foreign trade contribution – worldwide, but also within the EU – is distributed more fairly. We welcome the importance attached to environmental and social standards in the current bilateral trading strategy of the EU; the proposed sustainability chapters, however, have to be furnished with effective enforcement mechanisms.
Policy Papers | Social - Economic
| Main report |
AK position paper on the Consultation Paper of the Commission: Possible further changes to the Capital Requirements Directive (CRD IV)
[15-08-2010]
The serious financial and economic crisis has shown that the current regulatory system that makes strongly modelbased assumptions, which in turn are based on historic data, in connection with the valuation rules of true and fair value accounting, may result in undesired procyclic effects, apart from not having been able to prevent the crisis. Other significant contributors to the development of the systemic risk are also those elements of the financial system, which are not or only insufficiently covered by the regulation.
Policy Papers | Economic
| Main report |
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 |
Presentation of Jean-Pierre De Laet
[14-10-2010]
Budget consolidation after the crisis: Do higher tax ratios result in lower growth?
Presentations | 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 |
The new Bilateral Trade Agenda of the European Union: Position Paper by the Austrian Federal Chamber of Labour
[01-02-2007]
With the strategy paper „Global Europe – Competing in the World“, dated October 2006, the European Union presents a reorientation of the Common Commercial Policy. It moves the accent away from the multilateral WTO negotiations to the bilateral approach. The Federal Chamber of Labour (BAK) on the other hand prefers multilateral negotiations compared to bilateral ones, as bilateral free trade agreements undermine WTO negotiations.
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 |
