Talk: "Local Public Banking"

Date, Time & Location Mon 30 Nov 2015, 7.30pm, Quaker Meeting House, 10 St James St. S1 2EW
Details Public talk and discussion by Positive Money, a campaign to create a money and banking system that works FOR society and not against it. Marie McCahery (coordinator of the Bradford group of Positive Money supporters) asks: What can we learn from the success of the Sparkasse, the municipal banks of Germany? Local public banks (or municipal banks) are like credit unions but they have a banking licence and can create money - and the profits go to local governments. Public banking is 40% of banking in Germany and 25% of banking worldwide, but is rarely discussed in the UK. In Germany, this has resulted in a very vibrant small and medium business sector. With no speculation in the financial markets, the Sparkasse did not suffer from the crash of 2008, and were in fact helping keep businesses going. Positive Money ask for a voluntary donation (suggested £3) to cover costs. Positive Money Sheffield