Romania

Despite needing some explanations on the subject of the workers' financial participation and also of some concrete examples (that is the reason of the expectations to participate in the present project) there are some experiences that can be pointed out in this matter, occurred in Romania.

Before the privatisation phase each worker had a State coupon and was entitled to give that coupon to his company, or to any other, and when the company was sold those shares, of those workers, were kept in the workers' ownership. Part of those was sold, although some still maintain them in their possession. However, the worker's shares are a small percentage of the total of shares. In some cases, and due to the fact that some still kept shares, some workers can participate at the executive's meetings, but they cannot change anything.

On the occasion of the privatisation phase, it was constituted a forum, a workers’ association that bought shares of the companies and in some cases those associations have the majority of the shares. While the partner trade union declares that such percentage is not significant, the employers defend the opposite.

So that they were able to buy the shares, of the big companies, the workers started by paying a part and the remaining would be paid when the company obtained profits.

Actually, and in what concerns the private companies, and according with what is foreseen in the most recent collective agreements (valid up to 2005/6) the workers can have participation in the capital up to 10% of the total.

In July of 2004 came into force a legal instruments that institutes a special found, composed by join contributions - employer and worker, towards the constitution of an additional retirement contribution. This scheme has, also, some fiscal benefits. But it is unknown, till the present date, which is the applicability of this scheme.

There is, already constituted, a fund composed by join contributions (worker and employer), intended to assure the reconversion of workers dismissed. Although this found is foreseen, such is not applied, in practice.

It exists, despite the reported experiences, scepticism in Romania on what concerns the financial participation’s schemes. This because the workers recall well the Communist system in the country, when the workers had the obligation to give part of their wage. With the revolution, the workers preferred to have their money back. This was, in fact, one of the reasons why the metal industry stagnated, due to the reduction of the capital in the companies.

In the partners’ understanding financial participation can be positive, but it is necessary to gather experiences, from other countries, and more information. That is the reason why the financial participation can be applicable, but it has to be a safe system and profit must be visible. The worker gives a lot of importance to the safety. It will be necessary to overcome the feeling, of the workers, that they could loose their money if they invested and what will happen in case they are dismissed.

It is necessary to add the fact that the wages are low and for reason to suggest to the workers to invest part of that wage will be very difficult to accept. Eventually, what can be proposed, to the workers, is the distribution of shares amongst the employees and that such will consist in a plus to the wage.

To be applicable the financial participation it should occur through collective agreements, because they are powerful instruments and they will allow a bigger commitment giving, however, also, to the companies some freedom to choose the particularities.