Word: unionism
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...Given the political climate, European Union leaders on Sept. 17 vowed to take action on what French President Nicolas Sarkozy calls "the scandal" of bank bonuses. They agreed in Brussels to seek binding rules on the allocation of bonuses, sending a strong message to U.S. President Barack Obama and the G-20 leaders who are meeting in Pittsburgh, Pa., on Sept. 24 and 25 that they are serious about cracking down on profligate spending by financial institutions. (See pictures of the global financial crisis...
...Monday's meeting, some speakers speculated about what this could mean. Nobody can deny that British newspapers are feeling the pinch; there have been redundancies at most titles, and many predict increasing consolidation of national and regional titles. Observer journalists still fear the Guardian-ization of their newspaper. A union representative warned that any attempt to impose compulsory staff cuts would trigger a strike ballot. But the bulk of the evening was devoted to fond reminiscences of past Observer glories and readings from its archive. (Wisely, nobody attempted the 26,000-word leading article published in 1956, a translation...
Between then and 2007, the union has achieved a 145% salary increase for workers, strengthened its work-security program, and worked to preserve full health benefits for part-time employees...
Getting E.U. endorsement presents a herculean challenge because the Union makes decisions on a consensus basis that effectively gives any one of its 27 member states a veto. And one senior European diplomat points out that some E.U. member states are domestically constrained from imposing sanctions except those that have been authorized by U.N. resolutions. That means that a Russian or Chinese veto of new sanctions measures at the Security Council could actually prevent Germany from signing on. And Russia is hardly looking flexible. Foreign Minister Lavrov reiterated Russia's opposition to new sanctions Sept. 17, even after...
...Beijing and Moscow to back new sanctions was expected, support may also be waning in at least one quarter on which the U.S. had been counting: European and American sources tell TIME that Germany is unlikely to support tougher sanctions unless those have the backing of the entire European Union, dramatically complicating President Barack Obama's diplomatic challenge. (Read "Obama's Tough Choice on Iran...