FITUG welcomes BRICS Bank

-but is outraged at the unfolding Palestinian tragedy

THE Federation of Independent Trade Unions of Guyana (FITUG), the nation’s majority labour grouping, welcomes the decision of the Sixth BRICS Summit held in Fortaleza, Brazil to launch a Development Bank. FITU in a release issued yesterday said “Those countries – Brazil, Russia, India, China and South Africa – together represent an important segment of the developing world and their bank, we feel, will contribute greatly to increased South-South co-operation and collaboration.” “Certainly, it will assist greatly countries especially of the developing world in their modest, at this time, modernisation and developmental thrusts and provide an alternative, to the World Bank and the International Monetary Fund (IMF) which have come under severe criticism over the years for imposing harsh prescriptions and conditionalities through their intervention in several countries experiencing economic/financial distress. This Bank, which will be headquartered in Shanghai, China, holds out the promise that a first step is being taken that will lead to a new world financial architecture. FITUG views this development in a positive light.”

On the other hand, FITUG said it wishes to express its outrage at the latest Israeli aggression against the Palestinian people living in the Gaza area.
“It wishes to add its condemnation of the murderous and sustained bombing of civilians and the wanton destruction perpetuated by the Israeli Defence Force (IDF). The killing of the three Israeli youths was indeed tragic and deplorable and is being used as a pretext for the indiscriminate bombing of the people. However, we of FITUG subscribe to the view that the Israeli reaction is utterly disproportionate and unjustified. In just over a week, we understand, that scores of civilians have been killed, homes levelled and, in general, the bombings have been merciless. The FITUG expresses solidarity with the Palestinian people, to the political and trade union organisations of the liberation movement and to the families of the victims. We join in the worldwide condemnation of the Israeli regime which, in blatant disregard of international public opinion, opposed in several UN resolutions hold the Palestinian people in colonial and apartheid bondage,” the release said.

It added: “FITUG recognises that Israel’s aggressive behaviour over the years is rooted in the support – financial and military – it has been receiving from a few countries but mainly from the USA. The latest inhuman military adventure of Israel can only serve to pour fuel in a Region, torn, fragmented and set aflame by imperialist forces with the help of their vassals. In the obtaining circumstances, FITUG extends unwavering solidarity with the people of Gaza and all Palestine. Not only must Israeli crimes cease, but the UN has a duty to ensure that today’s crimes as well as those committed previously by Israel do not go unpunished.”

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