Positive Money Europe is a not-for-profit research and campaigning organisation aiming to make the money system support a fair, democratic and sustainable economy. We scrutinise the European Central Bank and develop policy proposals to reform the Eurozone monetary system.
Positive Money Europe was founded by Positive Money, a UK not-for-profit organisation founded in 2010. We launched Positive Money Europe in February 2018 following the success of our campaign targeting the European Central Bank, “Quantitative Easing for the People’.
We are a team of 10 people working from Brussels, supported by our interns and 12 talented colleagues in the London team, as well as a diverse and skilled advisory board. While we benefit from the administrative and operational support of our London office, Positive Money Europe operates with a high degree of autonomy in developing our strategy and policy proposals.
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.
The current money and banking system, including the Eurozone under the remit of the European Central Bank, is not fit for purpose. It is causing bubbles in the housing market, which price people out of homes and drive levels of inequality even higher. The ECB’s policies are aiding climate destruction by supporting carbon-intensive sectors. The Eurozone’s monetary system and the paradigm it operates in requires the permanent expansion of levels of debt, laying the foundations for future financial crises. Despite its highly concentrated power structure, the Eurozone also suffers from an appalling lack of democratic accountability, leaving national governments unprotected from market speculation.
Our mission is to transform the European Central Bank and the European Monetary Union into a system that supports 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 investments in productive sectors of the real economy, such as affordable housing, raise incomes, reduce inequality and meet 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. Subsidies for big private banks will be scrapped and better banking models will be created in their place.
We believe the European Central Bank should be held accountable by the elected representatives in the European Parliament.
The ECB’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 ECB, so that the Bank can reap the benefit of pluralistic of thinking.
We urge the European institutions and the European Central Bank to acknowledge and take into account the fact that we cannot sustain infinite growth on a finite planet, and to do everything in their power to fulfil their obligation under the Paris Agreement on climate change.
Instead of focusing on short-term profit by delegating money creation entirely to commercial banks, we call on the ECB to use its money-creation powers to support the EU’s climate goals and long-term public interests. We also call for the ECB to use its power to promote the allocation of capital to investments that create secure and sustainable jobs. This will reduce our economy’s dependence on high levels of debt.
We research problems related to the money and banking system to develop proposals for its reform and secure the support of policymakers.
We are building a movement of people with different backgrounds and political views who want to work together to change the money system to benefit ordinary people, not just a select few.
We are actively working to influence key decision makers and influencers in the European Union and at Member State level.
Positive Money Europe is a not-for-profit association (ASBL) which receives the majority of its funding from a number of philanthropic foundations, and a few individual donors (see details below).
Positive Money Europe’s expenditure in 2019 was €101,972, mainly covering two staff positions, the cost of an office in Brussels, two research projects, and other costs related to our activities.
See our funding, spending allocation and list of funders here.
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