---------- Forwarded message ---------- From: Dominique Swartz <[EMAIL PROTECTED]> Date: Thu, Oct 30, 2008 at 11:57 AM Subject: [FAWU Media Release] Mboweni Should Credit Exchange Controls For Insulating SA From Global Financial Crisis To: [EMAIL PROTECTED]
*Food & Allied Workers Union*
Vuyisile Mini Centre, Cnr NY1 and NY 110, Guguletu, 7750 - PO Box 1234
Woodstock, 7915
Tel (021) 637 9040, Fax* 086 508 6065*
E-mail:[EMAIL PROTECTED] <[EMAIL PROTECTED]>**
* *
HEAD OFFICE
**
**
*News Release: For Immediate Attention*
*Thursday, October 30, 2008 (11h50)*
**
*Exchange Controls Played Role in Insulating SA From Global Financial Crisis
*
The Food and Allied Workers' Union [FAWU] welcomes the fact that the country
is largely insulated from the global financial crisis, as induced by the
greedy and profit chasing sub-prime mortgage lenders in the heavily
deregulated United States. We believe it is a result of COSATU and the
SACP's relentless opposition to the relaxation of exchange controls the last
twelve years.
We call on the Reserve Bank Governor, Tito Mboweni, to give COSATU and the
SACP full credit for having opposed exchange control relaxation - a position
he considered populist until recently.
In fact, we call on Tito Mboweni to apologize to the nation for claiming
success on this front without acknowledging COSATU and SACP. We found his
behavior morally repugnant and condemn his misleading the nation into
believing that the retention of exchange control was prudent fiscal and
monetary policy stances, voluntarily driven by him and the treasury alone
without pressure and influence from our trade unions.
He is the one who deserves to be prayed for- for taking above-inflation rate
(and on two occasions more than double the rate) in salary adjustments and
increments while telling the poorly paid workers not to demand wage
increases more than consumer price index figure.
*Released by FAWU media office
Dominique Swartz
082 498 5631
Please call General Secretary Katishi Masemola on 082 467 2509 for more
information*.
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VM
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