Last year, Positive Money launched Quantitative Easing for People, a campaign in the eurozone.
QE for People has been bringing together civil society organisations who agree the European Central Bank’s programme of QE is failing.
Since QE started, 720 billion euros have been created. This money has flooded financial markets, pushing up house prices and driving inequality.
QE for People argues there is an alternative. Central bank could use newly created money to meet the needs of society – to finance infrastructure projects, build affordable housing or by giving it directly to eurozone citizens.
Our campaign is already having a big impact.
In March, Mario Draghi, president of the ECB, declared helicopter money (a QE for people proposal) a ‘very interesting concept’.
Thomas Mayer, former chief economist of Deutsche Bank, recently wrote:
“Helicopter money would facilitate the change-over from our present credit money system to an alternative money system, in which money is no longer created as private debt.”
Economists and policy makers are beginning to take an interest, but we need a strong public voice to bring about change.
We need your help to spread the word about QE for People. Please share this.
Thank you for being involved!