Finance and Economy

The topic of greening the economic and financial system is broad and daunting. However breaking it down into a few key questions can highlight the steps that we as Greens must urgently take to reign in the financial industry.

The lessons of the last crisis always seem to be forgotten, and the financial world continues to grow and pose a risk to economy and planet. We Greens must marshal all our energy and ideas to reign it in.

While there is a growing consensus that it is now unlikely that any country will leave the Euro. However, other groups suggest that parallel currencies for northern countries alongside the Euro may be better for Europe, but this is hotly contested.

Italy may be in the news for its economic and political uncertainty, but beneath the radar many manufacturing companies are making the necessary conversion to a sustainable and ecological future.

5 years after the bankruptcy of Lehman Brothers, and the beginning of the worst economic crisis in decades, the EU has not delivered on promises of strong regulation of the financial sector. A swift overhaul is needed.

The Global South could be a potential loser in the negotiations over an EU-US Free Trade Agreement. The fairer alternative is to return to the post-war idea of multilateral negotiations that involve civil society and provide a fair deal for all.

Negotiations on a Transatlantic Trade and Investment Partnership (the EU-US Free Trade Agreement) have the potential to undermine environmental, social and labour rights. As Greens, we must work to make the process more transparent and fight any attempt to lower standards.

The failed austerity strategy imposed by the Troika is coming under increasing criticism, sometimes from unexpected corners. The time has come for a renegotiation of the debt incurred by the Portuguese State.

Following President Obama’s State of the Union, negotiations will shortly commence on the will be known as the Transatlantic Trade and Investment Partnership (TTIP) between the EU and US. Some claim such a deal will create 2 million jobs, but reaching agreement will be difficult and to succeed the EU needs to identify what its priorities are.

A long book is probably too short to explain the European crisis in full length and depth.