In Europe, the week of 22-28 May is dedicated to raising awareness about the importance of mental health. In this blog, we want to highlight how some of the main problems in today’s financial and money system also represent a threat to our mental health. This shows a need to rethink and rebuild the economy so that it works for people’s well-being and not against it.
Since 1911, the International Women’s Day on the 8th of March, has been a day dedicated to celebrating women’s achievements in the pursuit of their rights and gender equality. On this day, Positive Money Europe wants to highlight how female financial inclusion, access to positions of power for minority groups, and the contribution and visibility of female economists are extremely important pieces in eradicating inequality.
As a consequence of the European Central Bank (ECB) raising its interest rates, banks are making sky-high unearned extra profits, while people and public budgets are only losing out. We believe that a money system that benefits private over public interests needs to be deeply reformed.
True to our commitment to being the bridge between people and the European Central Bank (ECB), ahead of the last monetary dialogue in June we collaborated with our friends at SumOfUs to collect our supporters’ views, expectations and concerns related to the ECB’s work. The results showed overwhelming support for ambitious and proactive environmental actions by the ECB. They also rang a bell about the need for clearer communication from the Central Bank on the effects of its interest rate hikes.
On July 21st, the European Central Bank (ECB) announced that it is raising interest rates by 0.5 per cent, opting for an even higher hike than what was announced in June. Over the past few months, Positive Money Europe has repeatedly warned that higher interest rates are simply not the right solution to current price increases, as they will negatively affect people and jeopardise the well-being of our economies and the future of the post-pandemic green recovery. Why do we think so? In this blog, we answer a few questions about the impact that rising interest rates will have on people’s daily lives.
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