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Statement of Support for Quantitative Easing for People

We invite all economists to endorse the campaign by signing up to the declaration below.

1. Conventional QE does not work

Since it started in March, the eurozone QE program has not helped to rescue the eurozone economies from stagnation.

2. Conventional QE is risky and harmful

Flooding financial markets inflates share and bond prices, which makes the rich richer, but does little to help ordinary people and businesses. In fact, QE is helping fuel a new financial bubble, laying the foundation for another financial crisis.

3. A more direct approach is needed

Countries in the eurozone need to stimulate their economies without increasing public and private debt, without increasing inequality, and without creating bubbles.

4. QE for People is possible

Instead of flooding financial markets, money created through QE should be spent into the real economy, on essential public investment such as green infrastructure, affordable housing and/or distributed as a citizens’ dividend to all residents.

5. QE for People is urgently needed

Given the challenges facing the eurozone, we urge economists, civil society organisations, and people from across the eurozone to join us in calling on the ECB to implement QE for People as soon as possible.

Featured Endorsements

Yann Moulier Boutang Alain Grandjean Jacques Sapir Stefano Fassina David Graeber Brigitte Young Molly Scott Cato Francesco Saraceno Helge Peukert Tim Jackson Ann Pettifor Constantin Gurdgiev Brian Lucey Manos Matsaganis Lluís Torrens Joze Mencinger Daniel Raventós Thomas Fazi Josh Ryan-Collins Victoria Chick Eric Lonergan Frances Coppola Steve Keen

See the full list

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