Last week UNI Europa Finance met with Michel Barnier, the European Commissioner in charge of Internal Market and Services, where financial regulation is included. Michael Budolfsen, vice President both of UNI Europa Finance and of NFU, participated in the meeting. The general idea of the meeting was to make a goodwill visit and to share trade union views on financial regulation

– We have long been puzzled about the exclusion of trade unions from working groups, such as the Liikanen group, says Michael Budolfsen. Trade unions should be included, especially as we are the vital party that does not oppose regulation – instead we play on the same team as the European Commission. In general, we strongly agree with the need for a regulatory framework that will create sustainable financial sectors.

Another point that was raised at the meeting was social cohesion and the need for the European Commission to take the role of the social partners into consideration. UNI Europa Finance would like to see wordings on the role of the social partners included in the regulation. It could for example be texts that demand a national dialogue with trade unions when new rules are implemented in the EU Member States.

– Michel Barnier was positive to both our demands, that unions should be more included and the need for social cohesion, says Michael Budolfsen. Barnier asked for proposals from us, so effectively it’s now up to us to come forward with some suggestions.  We will now start working on this and we expect to send something in a few weeks’ time.

Michael Budolfsen sees the meeting with Michel Barnier as very positive. It has been said about Barnier that he is not interested in interaction with trade unions.

– With this meeting, I think we have moved a couple of steps forward, Michael Budolfsen concludes.