Beyond Europe’s financial bifurcation point: Policy proposals for a more stable and more equitable financial system. POLICY BRIEF N.4 2014
The European citizens need a financial system that provides for their credit and payments-system needs without imposing costs from excessive volatility, recurrent crises and financial discrimination. Such a financial system will use productive finance to reduce inequality by levelling “up”. As things stand, the European financial system both reflects the effects of three decades of worsening inequality and operates in ways that deepen it. This policy brief proposes ten reforms aimed at breaking the inequality-finance cycle in Europe.