{"id":1404,"date":"2021-04-21T16:47:57","date_gmt":"2021-04-21T16:47:57","guid":{"rendered":"https:\/\/republicirelandbank.com\/?page_id=1404"},"modified":"2024-05-27T09:56:44","modified_gmt":"2024-05-27T09:56:44","slug":"creating-irelands-alternative-banking-force","status":"publish","type":"page","link":"https:\/\/republicirelandbank.com\/","title":{"rendered":"CREATING IRELAND’S COMMUNITY-PUBLIC BANKING SYSTEM"},"content":{"rendered":"\n
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The graphic above shows the three Banking Regions on the Island. It is planned to have at least one bank branch in every county.<\/strong><\/figcaption><\/figure>\n\n\n\n
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Community-Public Banking Ireland –<\/h3>\n\n\n\n

Oct 2022 Plan:<\/h3>\n\n\n\n

Ireland Urgently Needs Safe, Solvent and Ethical ‘Not-for-private-profit’ Community-Public Banks to provide safety for Irish deposits, support for the Indigenous Economy, and banking facilities to everyone in the country.<\/h5>\n\n\n\n

As you are aware, Ireland has essentially a banking duopoly with two large international commercial banks holding the vast majority of deposits, accounts, mortgages and loans. This monopoly on lending is essentially control of the \u2018credit of the nation\u2019, i.e. they control who gets credit, the purpose for which it can be used and the price of that credit i.e., the interest rates charged. As the vast majority if this lending is for assets and asset speculation, it does not serve the productive economy.<\/p>\n\n\n\n

This also contravenes the Constitution of Ireland wherein it states as follows:<\/p>\n\n\n\n

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\u201cThat in what pertains to the control of credit the constant and predominant aim shall be the welfare of the people.\u201d<\/em><\/p>\nBunreacht na h\u00c9ireann Control of Credit: Article 45 2(iv),<\/cite><\/blockquote>\n\n\n\n

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Community-Public Banking System Behind German Economic Success:<\/strong><\/p>\n\n\n\n

<\/strong>Germany has c. 70% Public & Community Banks. The Sparkassen group comprise c. 42% of these, with the remaining c. 28% being Cooperative Banks.  All of the Commercial Banks in Germany, including Deutsche Bank and Commerzbank, have only 12.5 % of the market. Germany is the 4th<\/sup> largest economy in the world with exports similar in value to that of China, while having only 6% of China\u2019s population. <\/p>\n\n\n\n

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Renowned International Banking Professor, Richard Werner, describes the current scenario very simply:<\/p>\n\n\n\n

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\u201cEconomic Growth and National Income are almost entirely determined by a factor that is decided at home (in Ireland), namely, the amount of bank credit created for productive purposes.”<\/em><\/p>\nProfessor Richard Werner<\/cite><\/blockquote>\n\n\n\n

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Ireland needs,<\/strong><\/p>\n\n\n\n

1. Banks Providing Safety from bail-ins for Irish deposits.
2. Banks based on systems proven to work and create strong, high growth economies, e.g. Germany, Japan, Korea & China.
3. Banks offering Community Control of Credit (SME Focused Banks – SME\u2019s provide 60 to 70% of all jobs)
4. Banks facilitating ‘Credit for Productive Purposes’, i.e. to create new jobs and services and the implementation of new technology.
5. Banks that Do Not participate in Securitisation or Speculation, and do not pay Banker Bonuses.
6. Banks that counter the ‘Boom-Bust cycles’ created by speculative credit of commercial banks.
7. Banks that Retain ‘Physical Cash’ in society as the commercial banks and ECB now work to remove it.
8. Banks that remove ‘Control of the Credit of the Nation\u2019 (i.e. the economy) from private Banks.
9. Banks that are Decentralised – Reverse the globalists trend of Centralisation.

We can have local jobs, rural and urban revival and development, with ethical Community-Public Banking.
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No Government\/State Support – The Project Must Proceed<\/h5>\n\n\n\n

As no Government\/State support is forthcoming for the 2015 SBFIC – Sparkassen\/PBFI proposal for eight to ten Regional Community-Public Banks, or for the PBFIs 2017 Preliminary Proposal ‘Creating Ireland’s Alternative Banking Force’, an alternative support and funding method is being developed. <\/p>\n\n\n\n

This will bring together interested groups, together with public support to proceed with the initial modest proposal of two Regional Community-Public Banks that would service all of the 26 counties, as shown in the graphic above. The model also includes a Central Support Unit (CSU) for the banks, which also facilitates the introduction of more community banks in the future.<\/p>\n\n\n\n

Note<\/strong>: Northern Mutual an independent group in NI have begun a Community Banking project in the 6 counties.
A Comprehensive Nationwide Community-Public System is required; ideally a Community-Public bank in most every county, with smaller adjacent counties grouped to make up the required population.

The graphic above shows the Three Regions.<\/p>\n\n\n\n

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Community Banking in Bavaria<\/strong><\/h2>\n\n\n\n
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