Are you going to Glastonbury festival this week? Positive Money supporters are running a stall there, so make sure to visit them. You may get involved in the discussion and perhaps help to recruit some new supporters!
What type of monetary framework should the Greeks adopt if they were to part ways with the Eurozone?
The "Grexit" might be just around the corner. Wall Street bets on 75% chance of Greek default. Greek prime minister escalated his defiance towards the country’s official creditors, with a pointed attack on the International Monetary Fund, saying the IMF bears “criminal responsibility”. Greeks are withdrawing cash from banks in fear of Grexit. And the Greece's central bank has warned for the first time that the country could be on a "painful course" towards default and exit from the eurozone.
The past hundred years have brought us unprecedented development, especially through ever-evolving technology. In consequence never in history have so many people have lived so well. Yet our society and humanity as a whole are facing huge problems. Since the 1980s lower and middle incomes have barely risen, despite the fact that technology and productivity have continued to develop. The benefits of this development are going mostly to corporations and to the highest income groups, leading to an increasingly large and still growing gap between rich and poor. Especially after the 2008 crisis persistent unemployment and declining livelihoods are leading to impoverishment, with major social and psychological consequences. On top of that people are faced with higher costs of and decreased access to public services such as health care and education.
This week has seen the UK’s major banks begin a concerted fight-back against regulation intended to make the banking system safer. And there’s some sign that politicians are minded to listen. Mark Garnier, a Conservative MP on the Commons Treasury Committee said, “We cannot keep using them as a whipping boy for political one-upmanship.”
Listen to Fran Boait, Executive Director of Positive Money, explaining the problems with digital money in the current money system, the consequences and alternatives in an interview on Share Radio