Oireachtas Joint and Select Committees

Thursday, 5 February 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Photo of Joe HigginsJoe Higgins (Dublin West, Socialist Party) | Oireachtas source

Yes, because a parasite sucks the lifeblood of its usually unwilling host. The international financial press has reported that major private corporations in Europe have about €3 trillion, or $3.5 trillion, sitting in banks and presumably in other financial institutions, which they will not invest, while 25 million people are unemployed. Looking into the future, what could or should be done, in Professor Black's view, to make those funds, which he describes as parasitical, work for people, society and social regeneration?

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