By Dimitris Gouglas*
For too long we have entrusted financial markets as engines of growth and prosperity, ignoring the fact that a huge part of financial activity is speculative, unrestrained and based on flawed projections of the world. The myth of credit-based growth has gone bust, with 1.6 trillion euros of taxpayer’s money washing down the sink of bank bailouts. But yet, what makes common sense for citizens – taxing financial transactions – does not appeal to all political leaders in Europe.
Read the full article in the Social Europe Journal.
*Dimitris Gouglas is a research associate at Policy Cures in the UK and a founding Member of G700.