The Berggruen Institute on Governance Berggruen Institute on Governance held a Public Forum, "Europe: Next Steps" at SciencesPO in Paris May 28th 2013 to debate that "Budget deficits are being reduced across Europe. Structural reforms to improve competitiveness and move towards convergence are underway. But the high-social costs of these measures -- especially unemployment among young people -- have reached such intolerable levels that the very idea of European integration is coming into question."

Chris Coles was granted an invitation; afterwards, this is what he wrote to the leaders of Europe:

 

Millions of Jobs for Europe

Millions of new Private Sector Jobs - Without using Tax or Borrowings

Our plan is very simple

Take a substantial proportion of the distressed financial products currently held by the financial markets; convert them into what I call vanishing bonds; and use them to capitalise with equity capital; millions of very small businesses throughout Europe.

The equity capital investment is directly linked to job creation; the new business must immediately deposit their new capital into their business bank account. Thus we remove poor value products from the financial markets and return the money as new business banking deposits into the retail banking system; while; at one and the same time; using the money as equity capital investment to create millions of new jobs.

The Capital Spillway Trust - Millions of Jobs for Europe


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