European Labor Party of Sweden Submits Glass-Steagall as a Response to EC’s Request on Restructuring Euro-Banking

12 July (EAP) Yesterday, the European Labor Party (EAP) of Sweden submitted the United States H.R. 129 Glass-Steagall bill and a discussion paper to the European Commission. This action was chosen in response to an EC official request for “Consultation on Reforming the Structure of the EU Banking Sector,” which posed 11 questions in the most abstract, ‘value-free’ way, such as, “Do you consider that an EU proposal in the field of structural reform is needed? What are the possible advantages or drawbacks…?” etc. To this, the EAP replied with a hard-hitting review of today’s crisis, its origins, and what is required, including references, as well as the full text of HR 129.

As the EAP said of itself, in reply to the EC’s request for, “Identification of the Respondent:”

“The EAP is actively relaunching the Roosevelt economic policies, in Europe, starting with the bank separation according to the Glass-Steagall Act of 1933, with the aim of recovering the remarkable physical economic growth that was achieved in Western Europe, until the policy of controlled disintegration was launched by organizations like the Trilateral Commission, the Club of Rome, and the Worldwide Fund for Nature (COR/WWF)…”

The principal contact persons are Hussein Askary, Chairman, and Ulf Sandmark, Board Member, of the EAP.

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