05/10/2011 Session
Strasbourg, 05.10.2011 – In a context of modest growth, weak public finances and persistently high unemployment in many member states, the Assembly considers that combating unemployment is one of the central challenges confronting the OECD economies; it has called on the OECD to develop appropriate policy advice in order to prevent high long-term unemployment rates from becoming entrenched. According to the Assembly, the right balance needs to be struck between fiscal consolidation policies and those which promote a job-rich economic recovery with decent work and decent standards of living.
On the basis of the report by Biruté Vesaite (Lithuania, SOC), which reviews OECD activities in 2010-2011, the Assembly also encourages the OECD to develop political responses to the social disparities which have worsened as a result of the recession, including discrimination and income inequalities. It requests greater commitment by the OECD in the field of social policy. It also draws attention to the need to strengthen legislation governing financial institutions' operations and to regulate financial markets and capital flows in order to increase their transparency.
The Assembly welcomes the 50th anniversary of the creation of the OECD, which should focus its development strategy on innovative and sustainable sources of growth, good governance and the mobilisation of domestic resources for development, including by encouraging investment.