Brussels, 16/09/2009
Despite the massive support of governments to the banks, (three trillions of euros in capital and bank guarantees, massive liquidity at almost zero interest rate), credit for productive investment remains squeezed whereas, at the same time, speculative behaviour are reappearing again together with overblown bank profits and bonuses for the bankers and their traders.
Says John Monks, ETUC General Secretary: “The scandal of bank bonuses is only the tip of the iceberg. What is also urgent now is for governments and central banks to make sure banks use the support they have been given to support jobs and investment”.