Europeans for Financial Reform

Europeans for Financial Reform (EFFR) is a coalition dedicated to effecting reform in the financial and banking sectors. EFFR was created in Brussels on September 21, 2009, just over a year after the collapse of Lehman Brothers and the beginning of the financial crisis.[1]

EFFR pursues a campaign called "Regulate Global Finance Now!", which was launched September 21, 2009. The goals of this campaign are to raise awareness of the need for financial reform and to get governments to do adopt following reforms:

• To regulate speculative funds, such as hedge funds and private equity funds
• To create a financial transaction tax
• To regulate executive and shareholder bonus and remuneration
• To close down tax havens
• To protect consumers from toxic financial products and predatory lending, and
• To democratise finance[2]

The founding members of the coalition were the Global Progressive Forum, European Trade Union Confederation,[3] the Foundation for European Progressive Studies, Solidar and UNI Global Union.[4]

Europeans for Financial Reform is open to the membership of other NGOs, trade unions and think tanks, as well as individuals. It is not officially linked to any political party, although politicians can join the campaign as individuals. One high-profile politician involved in the campaign is former Prime Minister of Denmark Poul Nyrup Rasmussen[5]

Europeans for Financial Reform is associated with its counterpart in the United States, Americans for Financial Reform.[6]