Document written by left-wing allies is endorsed by every sitting Labour MEP set to contest their seat.
Today we face grave new threats to our security, the most urgent and costly of which is the need to transform our economies away from fossil fuels and excessive consumption. That is why its time to talk about, and talk up, monetary reform - to ensure that the public good that is our money system once again serves the interests of wider society, not just those of private wealth.
IMF economists have finally acknowledged what politicians have long denied. They have shown that austerity policies implemented by politicians and demanded by financial markets are severely damaging to what economists define as 'growth'. Ultimately, argues the IMF, these policies are self-defeating. As most thinking people now recognise, rather than repairing the broken and bankrupt economies of the world, austerity is making matters worse.
David Cameron has told the Daily Telegraph that he "can’t see any time soon when... the pressure [for austerity] will be
Austerity -- slashing public investment at a time when private investment is inhibited by a vast overhang of private debt and by a heavily indebted and broken banking system -- is indeed a disastrous economic strategy, for Britain, the Eurozone and the US.