It’s time to end implicit funding subsidies for bank trading by separating bank activities properly. We don't want more financial crises. Join the call for action!
Here’s what you can do:
Right now, the European Commission is consulting on how to reform the structure of the EU’s banking sector. The consultation will help to determine whether the EU gets a weak or a strong reform proposal.
The consultation is open to all citizens and organisations and the Commission is obliged to consider all responses. The deadline for responses is 11 July 2013.
What would I have to do?
Click the link above to download our short note and then set aside some time to write your message for the Commission. The note tells you how to respond and suggests a few things you can say in your response. You can reply in any EU language.
Why should I make time for this?
As citizens and taxpayers we all pay when too-big-to-fail banks get into trouble: first for the bail outs, and again when the failure hits the economy. Who knows how the next crisis will affect us and our communities?
A weak proposal on bank structure would make another banking crisis almost certain. Experts agree that separation of trading from other banking activities is strongly in the public interest but the big banks are fighting hard for a weak proposal or even no separation at all – they would like their hidden funding subsidies to continue for as long as possible.
Finance rules the world. Let’s change the rules!
Update:
A big thank you to everyone who responded! The European Commission received 439 responses from citizens which is an exceptionally high number. The vast majority of these responses insist on the points that Finance Watch made in its response to the consultation.
