Molly Scott Cato has been an active MEP for a week, and she’s
already hitting the news, having got involved in European banking issues. Green MEPs have been working for some time to make
the banking system fairer. Rather than banks being able to assume that tax
payers will just bail them out if their gambling goes wrong, European Greens
have been working for a system where riskier outfits have to put some money in
the pot. As it stands, we the public are bearing all the risk – and the
consequence, in the form of crushing austerity measures, but we see none of the
benefits. Why should the poorest be made to suffer so as to underwrite the
gambling of the affluent?
You can read more about it here.
However, it looks like the Commission has been persuaded to bow to the
demands of the bankers. This would be a failure of democracy, putting the
profits of the few ahead of the needs of the many. It’s not over yet. If enough
of us protest, perhaps the Commission can be persuaded to stand up for people,
not profits. You can read more here http://www.stop-bank-subsidies.eu/
and find out how to get involved.
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