We have been consistent in our opposition to genetically-modified organisms (GMOs) in food and farming and in our support for a GMO-free Europe. Greens will continue to lead the fight for GMO free food and against cultivating GMOs here, together with a ban on importing GMOs for animal feedstuffs. We must insist on the right to make our own rules and impose mandatory GMO labeling.
European consumers have the right to know what their food is composed of and where it comes from. Any research on GMOs should be limited to impact assessments including gene flow and cross contamination. (EGP 2014 Manifesto section entitled : No to GMOs)
Five years after the outset of the financial crisis, our system remains dominated by banks that are too big or too interconnected to fail and therefore too dangerous. Bank bail-outs have cost billions to the European taxpayers; this should never happen again. We want to ensure a properly sized, diverse and resilient financial sector that serves society and helps mobilise sustainable investments in the real economy. We propose stringent rules for the separation of banking activities into those which are essential to society and those which are not. Greens have contributed strongly to ensuring that financial products and activities which produce no benefit for the real economy and have the potential to destabilise the financial system can be banned and taken off the European market. European authorities should make use of this possibility. Only financial products and activities which demonstrate benefits for society must be authorized. Our initiatives have outlawed naked speculation on sovereign debt; curbed bankers’ bonuses; forced banks to disclose activities in tax havens; submitted the European Central Bank´s banking supervision to more democratic accountability.
Greens are proud of achievements in this domain.
Now we need to build on these successes. We want to ensure consumers receive good, independent advice on all financial services. Financial services legislation must not support further concentration of market power to the detriment of small sustainable banks. We advocate a European Banking Union, combining a strong common oversight of our banks, a common authority and fund to restructure failing banks and a common system of insurance for deposits up to €100,000 or equivalent. EU institutions must also contribute to tackling financial short-termism that limits the level of sustainability ambition in strategic investment decisions.
(EGP 2014 Manifesto section entitled : Bringing Financial Industry under Control)