EU austerity programmes subsidising ‚casino banks‘

Beitrag von Fabio De Masi im Parliament Magazine

Commissioner for financial stability, financial services and capital markets union Jonathan Hill has recently revealed details of the capital markets union (CMU) and rather than offering a way out of economic stagnation, this bundle of measures unfortunately risks repeating the same errors made prior to the crisis.

It also diverts political energy from what the European Union really needs, a new start. This would require strengthening the traditional relationship-based banking model, stringent financial sector regulation as well as serious public investment to kick-start a broad-based recovery and facilitate private investment. […]

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