Campaigners from WDM were joined today by Friends of the Earth Europe, Campact and SOS Faim to spell out ‘Stop food speculation’ using hundreds of pots and pans in front of the European parliament building.
The 925 pots and pans used represented the 925 million people facing hunger worldwide. The protest comes on the day of a key vote by MEPs on proposals to prevent banks and financial investors driving up food prices through financial speculation.
MEPs are voting today on a raft of proposed financial reforms known as MiFID (the Markets in Financial Instruments Directive). WDM is calling for strict rules to stop speculation driving food price increases and price volatility.
Campaigners handed over a petition with over 100,000 signatures from across Europe on Wednesday to the lead MEP for the legislation, German Markus Ferber, and lead MEPs from the other main political groups.
The World Development Movement’s director Deborah Doane said: “We are experiencing the third food price spike in five years, and each one forces millions of people into poverty and hunger. Speculation is a major factor in these spikes, and it is entirely avoidable. The EU can help stabilise food prices and prevent enormous suffering, but only if MEPs vote for strong regulation.”