Ann Pettifor

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Ann Pettifor

Political economist, author and public speaker

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Radically transforming the EU economy – and how to finance it

/ Capital Flows, Climate Change, ECB, Euro, Euroland, Europe, Green New Deal

September 4, 2020 The following article appeared on Progressive Post, the website of the Foundation of Progressive European Studies (FEPS) The Covid-19 pandemic has revealed a simple truth: today’s model of globalised, financialised capitalism, teetering on a shaky foundation of vast debts and costly credit, cannot deliver human well-being. In order to reverse the course, […]

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We can get killed…..

/ ECB, Euro, Euroland, Uncategorized

The following are my notes for a contribution to the debate on the post-Coronavirus economy held in the European Union’s parliament on 15 June, 2020. (The Parliament was largely empty as many MEPs were still shielding or self-solating from the pandemic. ) Other contributors included: Pierre-Olivier Gourinchas, Professor of Global Management, University of California, Berkeley,

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“The economic mechanism of Europe is jammed”

/ ECB, Euro, Euroland, Europe, Government Borrowing, Keynes

“The economic mechanism of Europe is jammed.” – J M Keynes [1] The Dutch finance minister Wopka Hoekstra is somewhat brazen. Like his German counterpart, he caused consternation across the Union by rejecting a ‘Coronabond’ – a scheme for raising finance for EU countries tackling the coronavirus crisis; a scheme that would have lowered the

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A Reckless Economic Experiment

/ BREXIT, British Chancellor, Euro, Euroland, Government Borrowing, Uncategorized

  The following article appeared in the Church Times on 20 September, 2018 “The Government is unprepared for a hard Brexit, says Ann Pettifor. The financial impact could be devastating” The Brexit referendum provided conclusive evidence that economics is inherently political. There was nothing scientific about any of the campaign promises or economic forecasts. Instead,

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Why not join the Euro, Mr Osborne?

/ Euro

There is nothing original about George Osborne’s proposal that governments of both the left and the right should in future embrace “a permanent change in ….our approach to fiscal responsibility – just as they have done in recent years in countries like Sweden and Canada.” (My emphasis) “Governments of the left as well as the

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The ECB Has Shaken The Eurozone’s Utopian Foundations

/ ECB, Euro, Financial Crisis, Greece

New building of the European Central Bank in Frankfurt Main, Germany by Norbert Nagel, 2014 The 4th February late-night decision by the European Central Bank to reject Greek bank collateral for monetary policy operations will, I confidently predict, precipitate not just a run on Greek banks; not just greater price instability across the Eurozone –

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An open letter to the leaders of Europe: Abandon the Euro’s ‘gold fetters’

/ ECB, Euro, Euroland, Greece, Uncategorized

(Image source: Bloomberg Businessweek) I am posting below my latest contribution to openDemocracy published on May 28.  In an open letter to the leaders of Europe, I argue that they need to abandon the fetters that chain them to the interests of private wealth, and threaten European disintegration: “On May 15th, in what can only

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The architects of the Euro hung by their own petard

/ ECB, Euro, Euroland, Fiscal Conservatives, Globalisation, Uncategorized

Dear readers…posted this last night, but  failed to add links…so have updated this morning….And now at 12.54 on 28 Nov, following revelations from Bloomberg, am adding in a reference to the extent that Morgan Stanley was bailed out in 2008. A petard, I am reliably informed by the Web, “was a bell-shaped metal grenade typically

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Labour must never again be captive to bankers

/ Banking Crisis, Capital Flows, Central Banks, Euro, Plan B, Tobin Tax

The following is the text of a speech to a joint meeting of the Christian Socialist Movement and the Co-op party on Tuesday 27th September, by Ann Pettifor, director of Policy Research in Macroeconomics (PRIME), co-author of “The Green New Deal” and a fellow of the new economics foundation. “I have just returned from a

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