Business Retail Union of Ireland
- Ireland needs a totally new banking strategy, and a banking system which is not controlled by a small handful of people.
- Not all banks are the same: commercial banks work for the 1%, but community banks work for the people and the community.
- 40% of everything we buy is interest; ie. the accumulated interest; instead of losing this to the 1% we need to recycle it.
- Small businesses provide about 70% of all jobs, despite the priority given to multinationals.
- Bad and deliberate banking policies with almost zero supervision led to a busted Irish economy, which caused 520,000 young Irish to emigrate, many suicides and serious family debts and grief. The role of the ECB was critical.
- The dysfunctional Irish economy has imposed enormous pressure and debts on small businesses, which have as a first duty to the state to be tax/revenue collector…
- Ireland needs a genuine public/community banking strategy.
- Ireland needs community/public banks to undo the commercial banking monopoly; community banks are for the 99%.
- Irish people need community banks so as to socialise the benefits of banking, instead of socialising the commercial banking debts.
- Surpluses in community banks are recycled into the communities, with enormous benefits to all.
- Small businesses and young entrepeneurs need local community/public banks managed by professionals who know how to support their efforts to become viable and profitable.
- Community banks lead to stability and prosperity in the economy, real growth in local indigenous industry and enterprise, help to prevent bubbles and forced emigrations.
- Communities must empower themselves over distant institutions like the CBOI and the ECB. Public banks, owned by all the people, mandated to serve the people/community are critical to self-empowerment.
- Properly designed community/public banks provide a bank account to most everyone who needs an account, and provide a wide range of basic banking services to the community
BRUI supports the drive by the PUBLIC BANKING FORUM of IRELAND, to establish a comprehensive public banking service; BRUI supports the policy of consultation with the experts in this type of banking, namely the German sparkassen foundation in Bonn, the SBFIC. BRUI supports the process of designing a model of public banking specifically suited to Ireland, delivering a special focus on the SME sector, and incorporating such basic principles as;
- WITHOUT SHAREHOLDERS OR SHAREHOLDINGS,
- OWNED BY THE COMMUNITY
- PROFESSIONALLY MANAGED
- COOPERATING RATHER THAN COMPETING WITH EACH OTHER,
- PROHIBITED FROM SPECULATION AND SECURITISATION PRACTICES.
BRUI sets AS ONE OF ITS PRIMARY OBJECTIVES THE CREATION OF A COMPREHENSIVE PUBLIC /COMMUNITY BANKING SERVICE