ESCR-Net invites you to endorse its Statement on the Financial Crisis and Global Economic Recession: Towards a Human Rights Response, prepared with much appreciated input and review of a broad array of organizations and individuals involved in the efforts of the Network.

While noting that the current economic crisis may be the worst since the Great Depression, deepening already stark levels of inequality both within and between countries, ESCR-Net says the financial crisis and global economic recession will have severe impacts on the realization of human rights, particularly economic, social and cultural rights.

“While people in developed countries are feeling the impacts on their standards of living, their jobs and their homes, people in developing countries are bearing the brunt of the crisis, with few safety-nets to protect them from severe poverty and deprivation, and without the fiscal capacity and space to soften the blow”, ESCR-Net states.

The Network adds that if the already witnessed practice to meet social unrest and public expression of desperation and frustration with violent repression by government forces continues, civil and political rights will also be under threat.

“A rise in xenophobic or otherwise discriminatory sentiment, as some sectors of the population seek to scapegoat others, would also jeopardize the rights of migrant workers and minority groups most vulnerable to discrimination”, the Network says.

Therefore, ESCR-Net calls for a response to the financial crisis and economic recession that places human rights norms at the center, in particular those legally binding human rights obligations enshrined in the Universal Declaration of Human Rights and core international human rights treaties.

“This is not only necessary as a matter of justice, but will make the reforms of the financial and economic system more sustainable and resilient to future crises”, the Network says in its Statement, adding that human rights policy response does not presuppose a certain type of economic system, nor preordain detailed trade or financial measures.

ESCR-Net states, however, that human rights do provide a clear and universally‐recognized framework founded in international law for guidance in the design and implementation of economic policies and programs to address this unprecedented economic crisis.

The Statement (available for download as .pdf document at ESCR-Net website) has been elaborated to contribute to the proceedings at the UN Summit Conference on the Economic and Financial Crisis from 1-3 June, as well as the People's Hearing on the Crisis to take place on the eve of the UN Summit.

To endorse as an organization, please send the name of your organization, country, and the name and email address of a contact person ASAP to nlusiani@escr-net.org. Or to endorse as an individual, please send your name, country, contact email, and any appropriate organizational affiliation.