{"id":1408,"date":"2016-09-17T00:00:00","date_gmt":"2016-09-17T00:00:00","guid":{"rendered":"https:\/\/staging.jbh.is\/?p=1408"},"modified":"2020-09-22T11:02:50","modified_gmt":"2020-09-22T11:02:50","slug":"whats-wrong-with-europe-and-why-dont-you-fix-it-2","status":"publish","type":"post","link":"https:\/\/jbh.is\/?p=1408","title":{"rendered":"WHAT\u00b4S WRONG WITH EUROPE AND WHY DON\u00b4T YOU FIX IT?"},"content":{"rendered":"<p>Adendum on banking reform.<\/p>\n\n\n<!--more Continue reading-->\n\n\n<ul>\n<li>Rebuild the firewall between retail banks, which enjoy state sponsored deposit insurance, and the risk \u2013 seeking \u201eshadow-banking\u201c-system.<\/li>\n<li>Break up megabanks under the auspices of anti-monopoly laws.<\/li>\n<li>No more tax payer bailouts of banks too big to fail<\/li>\n<li>A strict cap on CEOs\u00b4 supersalaries and bonusus. Tax them away in the case of non-compliance.<\/li>\n<li>Remove the massive conflict of interest engaged in rating agencies being paid by the financial institutions they are rating. Let the investors pay.<\/li>\n<li>Establish a majority state-owned investment bank for neglected long-term infrastructure investments (such as for clean and renewable energy in place of fossil fuels).<\/li>\n<li>Impose a financial transfer tax (Tobin-tax) on financial transactions across borders, both as an instrument of control and a source of revenue.<\/li>\n<li>Stop the taxation \u201erace to the bottom\u201c inside the EU and make sure multunationals pay their fair share of taxes.<\/li>\n<li>Alternatively impose a minimum tax on corporations.<\/li>\n<li>Close tax havens \u2013 period.<\/li>\n<li>Entrust the ECB with full powers as a lender of last resort to member states (including power to issue eurobonds)<\/li>\n<li>Change the mandate of ECB to include both full employment and growth \u2013 in addition to inflation \u2013 like the Federal reserve.<\/li>\n<li>Establish an all-EU banking union for minimum deposit insurance and to  avert capital flight.<\/li>\n<li>Coordinate monetary and fiscal policies on an EU basis.<\/li>\n<li>Strengthen the EU-fiscal arm by establishing common wealth and investment funds to sustain growth.<\/li>\n<\/ul>\n<p>For further details consult:<\/p>\n<ul>\n<li>Atkinson: Inequality \u2013 What can be Done?<\/li>\n<li>Stiglitz: The Euro: How a ommon Currency Threatens the Future of Europe. (part IV. Away Forward)<\/li>\n<li>Robert Reich: Saving Capitalism.<\/li>\n<li>David Shirref: Break up the Banks \u2013 A practical Guide to Stopping the Next Global Financial Meltdown.<\/li>\n<\/ul>","protected":false},"excerpt":{"rendered":"<p>Adendum on banking reform.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1,7],"tags":[],"class_list":["post-1408","post","type-post","status-publish","format-standard","hentry","category-allar_greinar","category-articles-in-english"],"_links":{"self":[{"href":"https:\/\/jbh.is\/index.php?rest_route=\/wp\/v2\/posts\/1408","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jbh.is\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jbh.is\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jbh.is\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/jbh.is\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1408"}],"version-history":[{"count":3,"href":"https:\/\/jbh.is\/index.php?rest_route=\/wp\/v2\/posts\/1408\/revisions"}],"predecessor-version":[{"id":2653,"href":"https:\/\/jbh.is\/index.php?rest_route=\/wp\/v2\/posts\/1408\/revisions\/2653"}],"wp:attachment":[{"href":"https:\/\/jbh.is\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jbh.is\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jbh.is\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}