Positive Money Europe is a non-profit research and campaigning organisation that demands a reform of the money system so that it supports a fair, democratic and sustainable economy. To do this, we scrutinise the work of the most important monetary institution in the Eurozone, the European Central Bank. We are the bridge between this powerful institution and ordinary citizens. We translate its policies into plain English, and we make proposals that ensure the money system works for everyone, and within the limits of our planet.
Positive Money Europe was founded in 2018 and grew out of Positive Money UK – a UK non-profit organisation founded in 2010 that targets the Bank of England. The European organisation was launched following a successful campaign targeting the European Central Bank, “Quantitative Easing for the People’.
Today we are a team of 9 people that work across the Eurozone from our office in Brussels. We also work in close collaboration with our colleagues in the UK and the US as part of the global Positive Money group.
Positive Money Europe is an associate member of Finance Watch and a member of the Eurozone Watchdog Network coordinated by Transparency International EU which seeks to make the governance of the Eurozone more transparent and democratic.
WHAT’S THE PROBLEM?
The current money and banking system in Europe isn’t working for most people. It causes high levels of debt, bubbles in the housing market, which price people out of homes, and drives up inequality. It lays the foundations for financial crises and harms our planet. Big banks have too much power and there is a large democratic deficit in the way the European Central Bank makes decisions. To deal with the big social, economic and environmental challenges we’re facing in the Eurozone today, we need to reform our money and banking system.
WHAT’S OUR VISION?
Positive Money Europe’s vision is for a money and banking system that enables a fair, democratic and sustainable economy.
We envisage a Eurozone that is not driven by housing bubbles, stock market booms and a bloated financial sector, and that does not allow for wealth to be concentrated in fewer and fewer hands.
Instead, we demand that more investments are made in the productive sectors of the real economy, such as affordable housing. This would help raise incomes, reduce inequality and serve society’s needs.
Everybody living in the euro area should have the right to access their money and make payments without having to rely on the big banks. Implicit subsidies for privately-owned big banks should be removed to level the playing field for a more diverse and resilient financial ecosystem.
We believe the European Central Bank should be held accountable by the elected representatives in the European Parliament.
The European Central Bank’s independence should not be an obstacle to helping the EU achieve its objectives, such as reducing inequality and lowering the EU’s carbon emissions.
We envision that a more diverse group of people with experience from the real economy and representatives of all parts of society should be appointed to the highest levels of the Central Bank, so that it can reap the benefit of pluralistic thinking. The ECB’s mandate should be reviewable at periodic intervals and approved by democratic instances.
European institutions and the European Central Bank should acknowledge and take into account the fact that we cannot sustain infinite growth on a finite planet, and should do everything in their power to fulfil their obligation under the Paris Agreement on climate change.
Instead of delegating money creation entirely to commercial banks, who are focussed on short-term profits, the European Central Bank should use its powers to steer capital allocations towards investments that create jobs, reducing our economy’s dependence on high levels of debt.
HOW WILL WE GET THERE?
At Positive Money Europe we pursue our visions, and the system change it requires, in six ways:
INFORM & EMPOWER
We work to inform and empower people with facts about the broken money and banking system, the problems it causes, and how it can work better.
We influence people in power in the European Union and at Member State level by speaking in the media, building relationships with politicians, and supporting interventions in the European Parliament.
We research the problems with the money and banking system and develop proposals for reforming it.
We support an international movement advocating for reform around the world.
We build a movement of skilled and diverse people that work together to campaign for system change in Europe.
We communicate our work and ideas through social media and print news.
Join the campaign
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