“Within the crisis there is an opportunity to move to more resilient, fairer and equitable economic and community systems. The hope is once there is a good understanding of the reality of our situation, a great deal of community cooperation can be unleashed.”
"What this crisis is trying to teach us are frightening truths about the ecological consequences of land use changes that have emerged as threats to our health," writes Brian Davey.
"Properly understood, money acts simply as a ‘claim’ on the output of the energy economy and driving up the aggregate of monetary claims only increases the scope for their elimination in a process of value destruction," warns Tim Clarke. He goes on to argue that Ireland is in a particularly vulnerable financial position, which is likely to lead to severe problems in the near future.
In this paper Deirdre de Búrca, who has been advocating a Green New Deal since 2009, discusses the politics and substance of such a Deal before tackling some of the monetary and financial issues relating to its implementation.
It may well be necessary to make some very quick decisions about debt forgiveness in Ireland (and several other EU countries) in the aftermath of a no-deal Brexit. Brian Davey's 2015 article from Credo provides concrete suggestions for achieving widespread debt forgiveness without crashing the economy, and is more relevant than ever now.
We urge the Irish government to recognise the existential aspect of environmental risk, as well as the complex challenges posed by the global financial system's high dependency on oil. Ireland is particularly vulnerable to financial collapse and its community banking sector needs to be strengthened and taxation reforms carried out in order to help mitigate this.