Bugger The Banks!

Filed under: Politics by raburcke — Leave a comment

June 9, 2012

austerity (Photo credit: 401K)

From Dalia Hashad – Avaaz.org

Dear friends across Europe,

In 36 hours, EU leaders will meet to discuss a new deal to rescue our economies from the brink of collapse — this is our best chance to get them to dump the failed austerity policies that are impoverishing citizens while traders get richer. Let’s build a giant outcry calling on our governments to abandon Merkel’s one-sided austerity plan and grow our economic future. Sign the petition below and tell everyone:

Traders and financial markets are sending our economies into a tailspin while they get rich and citizens are left jobless, without a lifeline. Enough is enough — it’s time to tell our leaders that the banks’ reign of terror is over, and we can win the first major battle this week.

Right now, our leaders are deciding whether to back a bank-sanctioned austerity plan that would send deep cuts across Europe. Germany is still in the grips of appeasing the trader menace and trying to push the cuts through. But thousands of Germans have taken to the streets in protest, Obama and the G8 have called for growth and government spending, and France just elected a new progressive leader who is ready to stand with the rest of Europe and free democracy from the big banks.

We’ve seen how the call of the 99% made headlines worldwide and if we band together, our collective outcry will resonate in key meetings this week — saving all of us from the financial panic the Euro collapse would cause and striking a blow for citizen-driven economics! Click below to join in– when we reach 500,000 signers, we’ll take out a full-page ad in the Financial Times to make sure the call lands directly on decision-maker’s desks:

http://www.avaaz.org/en/eu_first_win_against_big_banks_1/?vl

It’s clear that traders aren’t motivated by society’s well-being. They routinely gamble with world markets, sometimes profiting when countries fail — from Argentina to Iceland. But the threat of investor flight often gives the gamblers huge influence over the political decisions of our leaders. We’ve seen how their power over politicians led to a regulation black hole that allowed US real estate to freefall, and now the new bank-favoured austerity plan could lead to the collapse of the Euro.

But we have a choice. Economists and politicians know that government spending in times of crisis combined with regulation and sensible budgeting in good times is the only way to bring a nation out of a financial crisis. In fact, many argue that massive US government stimulus was key to staving off a deeper recession in 2009.

If Europe’s governments would put real solutions ahead of fears of investor flight from the Euro, they could use the tools of Europe’s Central Bank, now controlled by Germany, to help Greece recover and prevent Spain’s collapse. And it’s likely that the short term market pain would disappear once the solution showed long term results.

Germany has so far been unwilling to stand against the banks, but a call for economic policies that help people, not traders, from across Europe could isolate Germany and empower France and their allies . Click below to join the campaign, then forward to everyone:

http://www.avaaz.org/en/eu_first_win_against_big_banks_1/?vl

There are tipping moments in history where people-power can change the future for everyone. We have seen the power of big banks, but we are just starting to see the power of global public opinion. Let’s use our collective voice to end the trader menace for good.

With hope,

Dalia, Luis, Iain, Joseph, Emma, Ricken, Ari, David, Julien and the rest of the Avaaz team

More information:

Eurozone biggest threat to global outlook, OECD says (BBC)
http://www.bbc.co.uk/news/business-18157781

Germany isolated as Latin bloc calls the shots (The Telegraph)
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/9280847/Germany-isolated-as-Latin-Bloc-calls-the-shots.html

US, Europe can’t thrive by austerity alone (Boston Globe)
http://bostonglobe.com/opinion/editorials/2012/05/21/europe-can-thrive-austerity-alone/A42lcoFRcgyuucvXHlIFFM/story.html

Where Greece is right and Germany is wrong (Bloomberg Businessweek)
http://www.businessweek.com/magazine/where-greece-is-right-and-germany-is-wrong-12222011.html

Thousands march against austerity in Frankfurt (New York Times)
http://www.nytimes.com/2012/05/20/world/europe/frankfurt-germany-protests-austerity-measures.html

Austerity didn’t work in Europe and the US should take note (Policymic)
http://www.policymic.com/articles/8029/austerity-didn-t-work-in-europe-and-the-u-s-should-take-note

EU austerity drive – country by country (BBC)
http://www.bbc.co.uk/news/10162176

Euro zone risks vicious circle of debt (Reuters UK)
http://uk.reuters.com/article/2012/05/22/uk-oecd-eurozone-idUKBRE84L0B520120522