Transcript Quelques idées pour nous sortir de cette crise

A few ideas to get out of this
crisis
Constituante
30 years of societal evolution
1986
2013
The return of the pendulum
After the Conseil National de la
Résistance …
… here comes the time of Thatcher
and Reagan
An eroding democracy
Belgium is ranked after Jamaica, Costa
Rica and Namibia. France, the country of
the « libres penseurs » ranks 37th
Politics and Europe are dismissed
A much too financial world
Growing financial assets
Share of the financial companies
in the total corporate profit
An asocial Europe
Unemployement at 10% does not
bother the European Commission
People are to be blamed for the
public debt
A financial sector out of control
A surge of the assets located in the
tax heaven over the last 10 years
Loans given by banks to themselves and the
private sector have increased by more than
100% from 1997 till 2010. In the meantime, the
GDP growed by less than 20%
Biased economic dogmas
Debt has not a negative effect on economic
growth unlike some economists have argued
US public spending are higher than
Belgium regarding social transfers
Degressive taxation in place of
progressive one for individuals and
corporates
A society prone to inequalities
Coefficient de GINI sur base des déclarations fiscales –
Belgique – 1990/2007
Source : INS.
The richest 1 % of the population owes more than 20%
of the national wealth
Source: Piketty
A few solutions
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1) Increase the purchasing power through a wage increase
2) Get out of the NATO (C. de Gaulle, R. Debray)
3) If the ESM is not a bad idea, it must not be conditioned to an involvement of the IMF neither to
structural adjustment mechanisms
4) No taxation on households with an income < 25.000€/year
5) Taxation of 10% on households with an income of 25.000-50.000€/ year
6) Upper marginal tax rate of at least 35%
7) Fobidden financial flows between European banks and non European tax heavens. (proposition de loi
Assemblée Nationale Française)
8) Minimum corporate tax rate of 20% (P.Maystadt)
9) Tax the corporate in the countries were they are making there real business not where they book there
accounting profits, suppression of the transfer price (P.Maystadt)
10) Forbidden the CDS (adopted)
11) Split the deposit bank activity from the investment bank activity (P. Krugman) (P. Volker) (Sir John
Vickers) (P.Maystadt)
12) Launch pan European investment projects selected by independent experts and financed by EIB project
bonds (Initiative de la Commission Européenne)
13) Replace at maturity state loans by euro bonds. That will put an end to discussions regarding which
country to help and what conditions would be required before giving any help (proposition think tank
Bruegel)
14) Accept the idea that GDP growth is not the only measure of economic health (S. Latouche)
15) Require that all country taking part to the WTO adopt a floating currency.
A few solutions (to be continued)
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16) Launch a people loan (K. Geens, ministre des Finances)
17) Modify the ECB status in order to make her responsible not only of low inflation but
also af a minimum purchasing power level
18) Settle a minimum European wage (P. Magnette & B.Tobback)
19) Settle rules in order to establish a « fair » trade (P. Magnette & B. Tobback), Europe
must at least have some minimal customs barriers (E. Todd, J. Sapir, Commission K. De
Gucht,D. Cohn Bendit)
20) Ability of the ECB to buy state loans.
21) New banking supervision architecture (J. de Larosière)
22) Help cooperative banks to be launched
23) Reallow a European industrial policy (P. Magnette)
24) Taxation of financial transactions, Tobin tax. (adopted by 11 european countries)
26) Meditate the following sentences: « L’économique étend sa domination préoccupante
et devient le nom même du rapport entre l’homme et le monde » Pascal Blanqué and
« L’économie a pris la place du sacré en ce qu’elle est sommée de « contenir », dans les
deux sens du terme, la violence humaine » Jean-Pierre Dupuy
27) Put in place a carbon tax on all industrial goods imported by Europe.