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13 December, 2000An editorial in the Financial Times regarding an EU directive on consultation rights draws sharp reaction from the IMF.
EUROPE: An editorial in the Financial Times of today (Dec. 14) entitled "EU meddling" has drawn a strong reaction from the IMF and its general secretary, Marcello Malentacchi. Amongst other things, the editorial states that the EU's "proposed directive on employee consultation is unnecessary, intrusive and politically dangerous."
In a letter to the newspaper's editor, Malentacchi states that such an editorial "shows just how out of touch you are with the realities of life and the importance in democratic societies for people to be ruled by consent and not by diktat, both in their economic as well as political activities."
Management of multinational companies, says the IMF general secretary, continue to operate without any consideration for either their legal or moral obligations to their employees or the communities in which they establish production processes. GM and BMW/Rover are but two recent cases in point. Unless there is some stronger requirement put on the business community, then there will always be some employers who seek to avoid their moral and legal obligations in order to gain a financial advantage.
In a letter to the newspaper's editor, Malentacchi states that such an editorial "shows just how out of touch you are with the realities of life and the importance in democratic societies for people to be ruled by consent and not by diktat, both in their economic as well as political activities."
Management of multinational companies, says the IMF general secretary, continue to operate without any consideration for either their legal or moral obligations to their employees or the communities in which they establish production processes. GM and BMW/Rover are but two recent cases in point. Unless there is some stronger requirement put on the business community, then there will always be some employers who seek to avoid their moral and legal obligations in order to gain a financial advantage.