Ann Pettifor

ECB

Radically transforming the EU economy – and how to finance it

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…..

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”

“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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Interview with New Zealand’s Biggest Business Website – STUFF

On the 15th April, this year, I visited New Zealand at the invitation of the Institute of Directors, to address 600 CEOs at their annual meeting. This is an interview given to the journalist Rob Stock in which he asked about the possibility of another financial crisis. “Ann Pettifor predicted the global financial crisis, and …

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The ECB Has Shaken The Eurozone’s Utopian Foundations

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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The ECB’s interest-setting record

On the day that saw the ECB cut interest rates by 0.25% to 0.75%, it’s lowset ever, here is a graph that tells an ‘interesting’ tale: ECB interest rates and inflation graph – Thomson Reuters

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

(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

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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The age of liberal finance over. The left’s Plan B?

By Ann Pettifor. An edited version of this piece was published on Left Foot Forward, 14 September, 2011. This original, longer version posted 19 September, 2011.  The game is up. The 2007-9 private banking crisis that started with the unpayable debts of the US sub-prime sector, was never over. The crisis has now moved on …

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