Trades unions across the world will present their governments Monday with a five-point plan for action at next month's G-20 summit in London to pull the global economy out of recession and chart a new course for creating jobs, regulating finances and ensuring governance globally, their confederation says.

The Global Unions G-20 London Declaration, developed by the International Trades Unions Confederation (ITUC) and the Trade Union Advisory Committee (TUAC) at the OECD, sets out the steps, which need to be taken by the G-20 in cooperation with other governments.

Their five-point plan, which includes detailed policy proposals, sets out the actions needed to tackle the crisis and build a fairer and more sustainable world economy.

The plan calls for a co-ordinated international recovery and sustainable growth plan to create jobs and ensure public investment, as well as the nationalization of insolvent banks and a new international legal framework to regulate the global economy along with reform of the global financial and economic institutions (IMF, World Bank, OECD, WTO).

Also, it calls for action to combat the risk of wage-deflation and reverse decades of increasing inequality as well as far-reaching action on climate-change.

If the G-20 conclave is only able to agree on half-measures, its participating-countries will have failed to meet their responsibilities, ITUC General Secretary Guy Ryder said in a statement, adding that as the world's largest economies, they have the responsibility and the capacity to replace the failed neo-liberalism of the past with a whole new direction for globalization.

Weak or non-existent regulation of banking and financial activity turned the world economy into an anything-goes casino, plunging the world into deep recession and causing the loss of tens of millions of jobs. This needs to be fixed urgently, said John Evans, General Secretary of the TUAC, at the OECD.

He added that another main pillar of recovery and reform--creating decent, sustainable jobs and boosting purchasing power--must also get priority attention at G-20.

Trades unions from around the world will join their counterparts from the British TUC March 28 in a huge civil society mobilization planned for London, to press the need for a co-ordinated global action by governments.

The ITUC represents 170 million workers in 312 affiliated national organizations from 157 countries.

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