Positive Money Europe today publishes its very first Annual Report. The report details the key activities and achievements made since our launch in May 2018, and includes details of our funding and expenditure.
Positive Money Europe began life in 2015 as a Eurozone campaign on ‘QE for the People’ by UK-based non-profit organisation Positive Money. We launched as a distinct organisation in May 2018 and registered as a new NGO based in Brussels in January 2019.
The 2019 Annual Report shows how we have shifted the conversation on central banking within the Eurozone and the European Central Bank (ECB) itself. We have taken reform of the monetary system from a fringe subject to a topic discussed by European leaders, prominent MEPs and the ECB President Christine Lagarde herself.
Our successes in 2019 included:
- Meeting with ECB President Christine Lagarde to demand the bank speed up its efforts on climate change;
- Publishing two reports on the role the ECB can play in the fight against climate change and how the European Parliament could exercise increased democratic control over the ECB;
- Getting 40 media hits and increasing our following to 15,000 people, with half a million visitors browsing our website.
The quality of Positive Money Europe’s work has been recognised by a range of diverse stakeholders, from MEPs to ECB staff, academics and fellow NGOs. MEP Paul Tang has stated that monetary policy “will more than ever be a force for good” because of our work. Former ECB Chief Economist Peter Praet has commented how Positive Money Europe had “pioneered open-minded thinking on monetary policy”.
London School of Economics economist Paul de Grauwe has praised our ability to think outside the box. Finance Watch Secretary General Benoît Lallemand has also highlighted how “Positive Money Europe has been a pioneer in mobilising citizens and policymakers around the need to reform central banks”.
The work done which garnered this acclaim has been carried out by a small but dedicated team which ended 2019 as two people, doubled to four as of August 2020 and is set to grow even further. Positive Money Europe’s foundation and successes would also not have been possible without the help of the talented team at our sister organisation Positive Money UK in London.
Our annual report also demonstrates our financial transparency. In 2019, Positive Money Europe’s budget rose to €137,974. This is a sharp increase from our budget for EU work of €72,320 in 2018, at which point our work was still incubated by Positive Money UK. Our main funding sources are philanthropic foundations without whom our work would not be possible. Reflecting our rapid expansion, we forecast that our budget will triple in 2020.
With our growing capacity, we have set ambitious goals for ourselves in 2020, including to build a truly people-powered movement that represents the voices of citizens across all 19 Eurozone countries. This will be a significant challenge, but a necessary one to create the fair, democratic and sustainable money system that Europe needs.
Thank you for joining us, and we cannot wait to share this journey with you.
See our funding, spending allocation and list of funders here.