Is the present financial system compatible with democracy?

Yanis Varoufakis in conversation with Gerardo Pisarello.

Yanis Varoufakis y Gerardo Pisarello: una conversación sobre democracia, municipalismo y Europa.

Fascinating discussion. Professor of economics and former Greek finance minister Yanis Varoufakis in conversation with deputy mayor of Barcelona Gerardo Pisarello.

A euro is equal to a euro is equal to a euro.


As the people in Cyprus learnt the hard way in 2013, if you held more than 100,000 in  a bank account, they were stolen by the EU.

There are now capital controls in Cyprus and Greece. You may have the euros, but you are not free to decide how you spend them.

If you hold euros in a bank in Spain , or any other southern European country, hold more than 100,000,  you are at grave risk the EU will steal your money.

This makes  a mockery of the euro as a common currency across the euro zone.

Parallel currencies, at parity with the euro, grant national, regional and local autonomy. They help monies to circulate within these economies.

The euro group is like the Mafia, it meets in secret, no minutes are taken, let alone published. Like the Mafia, it lacks any legitimacy.

The Federal Reserve, The Bank of England, publish their minutes, the ECB does not.

It is time to shine a light into these corrupt European bodies, democracy free zones. Meetings should be live streamed, meetings should be minuted and the minutes published. We have the right to know what is being discussed and agreed in our name.

TTIP which will will strip away what little democratic rights we have, hand yet more power to global corporations, is being pushed by the EU. TTIP  is being negotiated in secret.

We need an urgent programme on debt, banks, investment and poverty. Add climate to the list.

We need a citizen assembly, a politician free zone, to restructure Europe, to make it accountable to the people.

David Cameron is demanding change. Is he demanding these changes? No.

We elect national parliaments, their powers have been stripped away, they are dictated to by the EU.

Politicians helped the bankers survive.   This was a betrayal of the people.

We need to decentralise Europe. Citizens to take control of their local Town Halls, as they have done in Barcelona and Frome, a Flatpack Democracy revolution.  For them to then network, not only to share information, but also for their own protection from the state.


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One Response to “Is the present financial system compatible with democracy?”

  1. keithpp Says:

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