{"id":29720,"date":"2015-07-16T07:18:00","date_gmt":"2015-07-16T06:18:00","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=29720"},"modified":"2015-07-16T07:18:00","modified_gmt":"2015-07-16T06:18:00","slug":"jubilee-qe-for-greece","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2015\/07\/16\/jubilee-qe-for-greece\/","title":{"rendered":"Jubilee QE for Greece"},"content":{"rendered":"

This letter was in the Guardian yesterday<\/a>, from my\u00a0Green New Deal<\/a> colleague, Colin Hines:<\/p>\n

\n

Larry Elliott is right to say that rather than crushing Greece\u2019s economy and democracy, there should instead be a massive debt write-off and a return to sustainable economic activity in that cruelly ruined country (Condemned to debtors\u2019 prison, barely a chink of light filtering through its bars<\/a>, 14 July).<\/em><\/p>\n

This could be achieved by the European Central Bank rediscovering its purpose of ensuring the EU\u2019s economic stability. It is in the process of e-printing a staggering \u00e2\u201a\u00ac1.1tn of quantitative easing (QE), and should immediately introduce \u201cJubilee QE\u201d to pay off much of Greece\u2019s debts to its creditors. It could then help revitalise the Greek economy by introducing \u201cGreen Infrastructure QE\u201d \u2014 akin to the \u201cPeople\u2019s QE\u201d that Jeremy Corbyn has called on all the Labour leadership candidates to endorse<\/a>\u00a0for the UK.<\/em><\/p>\n

Finally, those who want a different, more humane direction for Europe must consider campaigning for a referendum in all EU countries to see whether or not the majority reject the austerity blitzkrieg now being so ruthlessly forced on us by the EU elites.<\/em>
\nColin Hines<\/strong><\/em>
\nEast Twickenham, Middlesex<\/em><\/p>\n<\/div>\n

I agree with Colin. It is absurd that Greece is excluded from the current EU\u00a0quantitative easing programme.<\/div>\n
<\/div>\n
It is also entirely possible that ECB funded\u00a0Green Infrastructure Quantitative Easing<\/a>\u00a0could be provided for Greece. This is a simple and logical development of the EU's investment plan now that it is committed to \u00e2\u201a\u00ac1 trillion of QE.<\/div>\n
<\/div>\n
And third, the fact that Jeremy Corbyn has committed to what is, in effect, Green QE is also very important. Corbyn is in the lead in the Labour Party leadership election according to data seen by the New Statesmen<\/a>. I am aware that this will send many into a state of apoplexy. It also means that sensible economic policies will be discussed, and what he calls People's QE is one of them.<\/div>\n
<\/div>\n
This, I think, is another policy that started on this blog<\/a> and has grown from there.<\/div>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

This letter was in the Guardian yesterday, from my\u00a0Green New Deal colleague, Colin Hines: Larry Elliott is right to say that rather than crushing Greece\u2019s
 Read the full article…<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,74],"tags":[],"class_list":["post-29720","post","type-post","status-publish","format-standard","hentry","category-economics","category-green-new-deal"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/29720","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=29720"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/29720\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=29720"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=29720"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=29720"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}