Feasta Currency Group members believe that community (or public) banking could form a central component of a healthy future Irish economy. There is an urgent need to expand this sector in Ireland in order to help protect the Irish economy from debt-related financial risk, stimulate community development and help bring about the transition to a growth-neutral financial sector.
Just when the implications of 'over-professionalising' banking and allowing an overpaid clique of casino-managers to screw up the real economy are becoming clear to the masses, we are being encouraged to think we can't do without them. If this rearguard action succeeds, the opportunity for innovation - for example in the capital financing of energy projects - will be lost. By Graham Barnes.
The financial world has out-stripped the real world. Our current economic crisis is too good an opportunity to miss since it allows radical action to be taken.
We imagine Ireland is in crisis, yet crisis is relative. Most people in the world would envy our material austerity and be thankful for our endlessly 'collapsing' health service. But with our expectations thwarted and in the anxiety of uncertainty, we are focussed inward. Yet we remain as deluded as ever.
Letter to the Editor printed in the Financial Times 11th May 2011 From Mr Ralph Musgrave. "Sir, According to Martin Wolf, Lawrence Summers (Barack Obama’s former chief economic adviser) is not sure whether an “expansionary fiscal contraction” is expansionary" [...]
Conference at University College Cork which includes a seminar with Richard Douthwaite of Feasta