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I am working with Unite in Salford to set up the Bank of Salford. It is going well. They have consolidated the credit unions, put money in, the city … - Maurice Glasman, Baron Glasman
" "I am working with Unite in Salford to set up the Bank of Salford. It is going well. They have consolidated the credit unions, put money in, the city council will put their pay roll through it to stabilise the asset, the government are supporting it with advice and lowering entry requirements to become a bank that can lend to businesses as well as families. It will be bounded within Salford, there will be local residents on the board as well as institutions, but Unite cannot do it on their own. There needs to be a partnership between the Church and labour that can put some constraint on capital without relying on the state. Relational accountability and democratic governance are key to this. That is how the old bones will walk again, by renewing a commitment to the common good in action. It’s a great thing to do.
English
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About Maurice Glasman, Baron Glasman
Maurice Glasman, Baron Glasman (born 8 March 1961) is an English political theorist, academic, social commentator, and Labour life peer in the House of Lords. He is a senior lecturer in Political Theory at London Metropolitan University and Director of its Faith and Citizenship Programme. He is best known as a founder of Blue Labour, a term he coined in 2009.
Also Known As
Alternative Names:
Maurice Mark Glasman, Baron Glasman
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Maurice Glasman
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Maurice Mark Glasman
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Lord Glasman
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Additional quotes by Maurice Glasman, Baron Glasman
Over a period of 500 years the City has supported deregulation at every turn. The consequences of this are massive. You had fraudulent products – the cause of the crash – debt being repackaged as an asset and then being used as leverage. The assets they held and credit they generated were on a ratio of 50-1. There was no effective regulation of this, no effective oversight. They have been exposed by the bailout. They have refused more than ten years of requests from us [London Citizens UK organisation] and suddenly they agree to meet. I think they are concerned that the political parties will move to a more manufacturing, less financially-based economy.
The vision pursued by the founders of the EU was one of economic self interest, (subsidies, protection and investment) and lofty aspiration, (peace, prosperity and justice). It was predicated on a Europe without borders where mutual economic interests would lead to perpetual peace. A soft Kantian Marxism underpinned the European Union from the start, in which economic interests and a legal order would displace local institutions and national politics.
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