Two Political Parties now supporting/promoting the Public Banking Proposal.

Two Political Parties now supporting/promoting the Public Banking Proposal.  

The PBFI who have been promoting the establishment of a system of Public Banks in Ireland since 2013 is delighted that two Political Parties, Sinn Fein and the Green Party are now supporting and promoting variants of this initiative.

The PBFI and the Savings Bank Foundation for International Co-operation (SBFIC) introduced SF and the Green Party to the current Public Banking proposal during the past year and the PBFI brought the need for Public Banking in Ireland to their attention prior to this.

Other parties:

The PBFI has had messages of support from within the other Political Parties, but to date, their leadership, have not supported the initiative. We are hopeful this is forthcoming. All Political Parties have been supplied with the similar public banking information and offered access to public banking experts.

All party support:

If you are a member or a supporter of any of the political parties not yet supporting/promoting the Public Banking initiative, please encourage them to do so. It is a contradiction for them to say they are working in your interest and not to support the Public Banking initiative. Independent TDs should also be approached for their support for the project.

It is most important this vital project is led by the independent and non-aligned SBFIC and its promoters and guardians the PBFI. The project also needs ‘cross-party’ political support. All parties and Independents TDs must recognise and address the urgent need for a resilient Irish banking system focused on serving the real economy.

The question for your local election candidate:

The question that needs to be asked of all candidates in the upcoming election:

Do you support the introduction of a system of community/public banks, similar to those in Germany, supporting SMEs (who provide over 70% of all our jobs), supporting communities and local indigenous industries or do you only support the restoration of the bailed out, private commercial, too-big-to-fail banks with their 95% market monopoly and shareholder return focus?

Links below to relevant articles:

Sinn Fein: http://www.sinnfein.ie/contents/35547      2 July, 2015 – by Peadar Tóibín TD

The Green Party: http://www.irishtimes.com/news/politics/green-party-proposes-creation-of-10-new-banks-1.2157506    March 2015 – The Irish Times

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Alex Templeton speaking at ECOBATE - UK - 2013

Councils should "bring local banks into being" so they can become "powerful partners" and promote economic, social and environmental benefits to their communities.

Published on Mar 21, 2013 Speaking at the 2nd European Conference on Banking and the Economy (ECOBATE) in Winchester, Alex Templeton, Director of the Farm Energy Project, explains how a disfunctional financial system has made it harder to lend to small businesses which in turn impacts communities.

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