Feasta’s Autumn conference examined measures that this country could adopt to secure its economic future which would not leave it reliant on external factors largely outside of its control. Scenarios explored included the potential collapse of the eurozone. The conference featured prominent international and Irish economists and was aimed at economists, politicians, policy-makers, business people, social partners, and other key decision-makers. Conference videos Conference programme (pdf)
Feasta has been exploring the potential for parallel currencies for some time, largely through the Liquidity Network project which is aimed at boosting local economies at a time when euros are scarce. Now a related idea is gaining traction at a national level in the form of a Parallel Punt. This surprisingly conservative option was discussed at Feasta's Autumn Conference held in Dublin on 22nd/ 23rd September. In this preview Graham Barnes set the scene for what could be a gamechanging development.
Michael Hudson is always worth the time to read. In this piece in New Economic Perspectives he eviscerates the rating agencies. Here are his concluding remarks.. …No less a financial publication than the Wall Street Journal has come to the conclusion that “in a perfect world, S&P wouldn’t exist. And neither would its rivals Moody’s [...]
The conventional way of financing property development entangles those involved in a web of debt and conflicting business interests. This week we are featuring two articles from Fleeing Vesuvius which describe a new way of organising developments that promises better buildings, more affordable rents and a stake in the outcome for everyone. Chris Cook provides an overview of this new approach and James Pike gives examples of how it could work to rescue building projects hit by the downturn in Ireland.
The EU's collective austerity programme will do little or nothing to save the problem countries - Ireland, Greece, Portugal and Spain - from default and the rescue fund set up by the IMF and the ECB will only buy time before they do so. Richard Douthwaite argues that a limited, targeted injection of non-debt-based euros could provide a neat and swift solution to a debt problem the whole eurozone shares.
I really like this idea, below copied in full, that Warren Mosler has devised for Greece but fully applicable to Ireland. Mr Mosler doesn't seem to want for self confidence. Perhaps he has good reason. [...]