It’s been two super-busy and successful months for Positive Money Europe. We’ve published two new reports, hosted an event in the European Parliament, and made it to prominent media! Check our latest successes below.
NEW REPORT “Strengthening Parliamentary Oversight of the ECB”
The ECB is often described as a super powerful and unaccountable central bank – which is true to a large extent. However from our experience we have found that the European Parliament have much more influence on the ECB than many people think. In this new report, we explore how the European Parliament can play an even more powerful role in holding the ECB to account. Read the report here.
We presented the report at the European Parliament on April 9th, thanks to the support of two Members of the Europan Parliament (Ramon Tremosa and Pervenche Berès). Our report was well received and appreciated by MEPs, and covered in Bloomberg, Agence Europe and the Financial Times.
NEW REPORT “Aligning monetary policy with the European Union’s climate targets”
Three years ago we engaged in a battle against the ECB’s corporate quantitative easing programme – a massive subsidy towards the biggest multinational corporations.
In this new report co-written with Veblen Institute, we reveal ananalysis of the ECB portfolio which only confirms our worries: the ECB invests more than 110 billions toward the most polluting sectors of the economy. The report advocates for concrete proposals to “green” the ECB’s monetary policy.
The European Central Bank (ECB) announced new giant subsidy for banks.
In response to the economic slowdown, the ECB has announced a new round of long-term subsidized loans for banks (TLTROs). But why would it work better this time? Read here
Green monetary policy: It’s about changing the mindset, not the mandate
Contrary to common belief, the European Central Bank’s current mandate and legal framework already gives ample room for action in the field of climate change. Read more here
ECB reveals it made huge profits from the eurozone crisis
After pressure from Positive Money Europe and MEPs, the ECB just revealed it made 61 billion euros of profits out of its intervention in crisis hit countries such as Greece, Italy, Spain, Ireland and Portugal. Read more here
Public discussion about Sovereign Money
29 April 2019, Vienna, Austria
Dr. Beat Weber from the Austrian Nationalbank and Raimund Dietz from the Austrian money reform campaign group will discuss the Sovereign Money proposal as an alternative to the existing system of money creation. More info in German here.
The Future of Money and Banking in the Era of Digitalization 15 June 2019, Stockholm, Sweden
The Swedish Central Bank is working on the plan to create a “e-krona” which could lead it to become a pioneer for the introduction of an electronic sovereign money. Speakers already include Steve Keen, Michael Kumhof, Miguel Fernandez Ordóñez and Joseph Huber. More info and the preliminary program can be found here.
“from the Central Bank to the European Commission, from the European budget to the Investment Plan for Europe, all our institutions need to have the climate as their mandate.” – President Emmanuel Macron
Happy Easter, and stay tuned for more news from us!
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When we change our money system from debt-money created by private bankers to government-created asset money, will that lead to inflation? No. It will establish steady-value currency that will eliminate