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Pascal Petit, France5 years ago Comments: -
Robin Simpson, United Kingdom5 years ago Comments: I am an independent consultant in which capacity I work for Consumers International which is a global NGO of consumer organisations based in London. Our British members are Which? and Consumer Focus (previously Energywatch/National Consumer Council where I used to work). I also work with the World Bank and OECD. I agree with everything you have said and I am currently trying to get the European consumer organisations to view the probable deficit reductions as a breach of faith vis a vis those who depend on the state for financial services. Vast sums of money have been spent on rescuing the banks and other Financial Services and the major beneficiaries of that have been the banks themselves and their (relatively) well off customers. The resultant deficit is now about to be paid for by the poor as they are disproportionately dependant on the state for their income as beneficiaries. Yet the guarantees for the banks as provided by the state for the last two years are exactly analogous to the guarantees provided to social security funds in France or Germany for example, which operate semi-autonomously but underwritten by the state. There is a terrible double standard at work here, reinforced by the new British government explicitly targetting the social security budget as a means of reducing the deficit. I am also working on the merits of the social security system as an automatic economic stabliser. I wish you good luck best wishes Robin Simpson
alexandros papadopoulos, United Kingdom5 years ago Comments: -
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