Presentation of my paper "A monetary approach towards a basic income in Greece" for the BIEN Congress in Munich.

1. A plan B for Greece ?
A monetary approach towards an
unconditional basic income in Grece
Stanislas Jourdan - BIEN Congress, September 14th 2012, Munich

2. What is the Greece crisis all about?
A self-destruction process
Don't push here !
Austerity Unemployment & poverty
Credit crunch Recession
Banking insolvency
More deficits Informal economy
Deposit flight Euro exit? Debt service on the rise

3. A little debt service problem
Find the mistake in this chart...

4. Banks...

5. Capital Flight

6. Tax evasion...

7. Insolvent banking sector

8. Shrinking money supply
Towards a moneyless economy

9. Some basic conclusions & issues
● Austerity is not working
● Shortage of money in Greece
● Banks are uselessly dangerous
● An exit would benefit to the richests
● Unsustainable public debt
● The central bank is already printing money
● Confidence is key to recover

11. Sure a basic income would help...
● An efficient safety net
● Downsizing the public
administration
● A huge stimulus for the
economy
● More power to people
● Confidence

12. Can we afford?
Where is the brilliant
politician who would do Too good to be true!
that?
This won't
happen

13. [Again]

14. What if...

15. Exiting the eurozone: an opportunity
A promising signal:
● The central banks 20bn new drachmas
yearly...
● During 3 years
● Distributed to people through a basic income
Two complementary measures:
● Banking sector reforms
● Tax on cash inflows of money

16. Inflation ?

17. Why inflation is not the problem
● Greece is under a shortage of money
● An important part of the production is now
outside of the official economy
● Inflation effect on purchase power is
compensated by the basic income
● The central bank may increase its reserves
requirements to control inflation

18. Effects on the banking system
● Bring new deposits into the greek banks
● Enable the central bank to progressively
withdraw its support
● Enable people to repay their debts
● New (local & ethical) banks competition
● Less moral hazard than conventional QE
● Banks can start financing again the economy
● People have more power on the orientation
of their savings

19. Social Justice
● Safety net for everyone - in addition to
current schemes
● The 'poor workers' are supported as well
● Tax evasion is finally discouraged
● Dilution of the richest's share of money

20. Politics & Society
● No need for reforms to implement the plan
● More power to citizens
● Social activities, entrepreneurship are
encouraged
● Confidence in the outlook of the country
● Give time and room for longer-term reforms
● Incentive for emigrates to go back home

22. But i'm not the only one:
● Clifford Hugh Douglas (social credit)
● Milton Friedman (Helicopter drop)
● Anatole Kaletsky (reuters)
● Stéphane Laborde (Relative Theory of Money)
● Steve Waldman (interfluidity.com)
● Peter Frase (sociologist)
● Neo-chartalism

23. « The truth is not on the side of the majority,
because we do not want it to be so. The day the
majority will be able, thanks to its culture and
knowledge, to choose its own truth, there is little
chance that it is mistaken. »
Boris Vian

24. Stanislas Jourdan, Journalist & activist
contact@stanislasjourdan.fr
Read the full paper here