attac
The ECB is giving the banks billions!
From 2019 to 2022, banks received long-term loans from the ECB with negative interest rates. 5,2 trillion. euros were retrieved.
Now, after the interest rate hike by the ECB, the banks are investing the money profitably with the ECB and making excessive #chance profits of up to 40 billion euros!
That's why a #excess profit tax is also needed for banks instead of record bonuses for managers & dividends for shareholders!
Taxes and Excess Profits: How the ECB Gives Banks Billions - Guest Post
For example, the program was never about the loans granted being used for sustainable projects. In view of the negative key interest rate, the banks were relatively easily given money as a gift. A year later, for example, only 4.950.000 euros of a five million euro loan from the ECB had to be repaid. That alone caused a legitimate debate.
Taxes and Excess Profits: How the ECB Gives Banks Billions - Guest Post
