If we are ever to have a hope of rebalancing the books, meeting the future costs of the NHS, and satisfying our pension liabilities we need to look beyond capitalism. It's served a fortunate few well, but it has failed the majority. It's time to bury it alongside socialism and look for a better successor to both.
This is an important moment for the UK but it is even more important for the wider EU. The restructuring of the Commission to place an emphasis on action to develop economic growth is a real move forward. The UK must seize this opportunity to make a reality of its own reform agenda and work for the vast majority of British people who see reform and change in the EU, not defeat and exit, as the real prize.
In the UK and elsewhere, the financial services industry is in the eye of the storm. The industry probably accounts for around 9.5% of UK GDP. Yet in the wake of the financial collapse, seemingly never-ending penalties for mis-selling and market manipulation and the continuing public outrage over bankers' compensation, many have come to believe that the industry is both rotten to its core and has become totally dissociated from the society which it is supposed to be serving.
Once again British banks are in the bad books, with the recent antics at Barclays prompting the Prime Minister to announce a review of the entire industry.