Reform the banking system so that no more bailouts are ever needed!
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This petition has been created by Lewis V. and may not represent the views of the Avaaz community.
New Zealand Government House of Representatives, and all Soveriegn Governments of the People
The Reserve Bank of NZ and the banks are currently working on a plan for what is innocently named Open Bank Resolution. Instead of taxpayers bailing out a troubled bank, the depositors will do it. This will be in place by June 30. Instead, we call upon them to investigate The Chicago Plan Revisited written by two IMF economists Jaromir Benes and Michael Kumhof, and to actively participate in appropriate international forums to make it workable and introduce it simultaneously across all nations.
This petition is an initiative of the New Economics Party.