The banking profession is too essential to the economy to be left in private sector hands. Banks must be socialised (this implies expropriating them) and put under citizen control (of bank workers, clients, associations and representatives of local public stakeholders), as it must be subject to public service guidelines and the income its activity generates must be used for the common good. Public debt contracted to save banks is definitely illegitimate and must be renounced. A citizen audit must determine the other illegitimate and/or illegal debts and play a part in mobilisation so an anti-capitalist alternative can take shape. Bank socialisation and cancellation/repudiation of illegitimate debt must be part of a broader programme [ Eric Toussaint ]
Posted on: Thu, 23 Jan 2014 01:02:53 +0000
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