Six years after the global financial, economic and debt crisis, Europe is still struggling with the consequences and trying to improve its economic situation. The devastating effects of the financial crisis of 2008 -2009 and the recession that followed have yet to be fully overcome. The aggressive monetary policy of the European Central Bank may have relieved the financial crisis but it has not boosted the real economy. The risks of deflation are now being discussed in view of the policy of low interest rates followed by the ECB.
At the same time we are faced with the challenge of hastening the convergence of economics and ecology. Climate change and the crisis facing the world’s ecology demand an urgent shift away from an economic system that is based on the ruthless exploitation of natural resources. The European Union cannot resolve its financial and social crisis without economic growth.
However, the old economic model is not viable for the future because it leads us deeper into crisis. The way out of this dilemma is a new, sustainable model for growth based on renewable energy, a high degree of resource efficiency and re-utilisation of valuable raw materials. This is in fact a green industrial revolution - it requires innovation and investment on a large scale. In this publication, several experts discuss the topic: They all show and analyse ways to finance the necessary change.
The German version of the publication has been published by the Heinrich Böll Foundation. Read the German version here.
For more information: Documentation of the Expert Symposium "Financing the Green Transformation"