<div dir="ltr"><div class="gmail_quote"><br><div dir="auto"><div><br><div class="m_1753749649689843511intro" style="box-sizing:inherit;line-height:2.4rem;margin-top:30px;margin-bottom:30px"><p style="box-sizing:inherit;margin:0px"><span style="background-color:rgba(255,255,255,0)"><em style="box-sizing:inherit">The Bail Out Business</em> is the most comprehensive and thorough analysis of the steps taken since the 2008 financial crisis to understand who benefits from rescue packages in the EU. Above all, it highlights the role of the Big Four (audit firms) and a small coterie of financial consultancy firms in the business of designing and implementing bail out programs in EU Member States.</span></p></div><div class="m_1753749649689843511metainfo m_1753749649689843511publication-metainfo" style="box-sizing:inherit;width:255px;float:left"><div class="m_1753749649689843511authors" style="box-sizing:inherit;margin-bottom:20px"><div class="m_1753749649689843511label-above" style="box-sizing:inherit;line-height:2.2rem;font-weight:700"><span style="background-color:rgba(255,255,255,0)">Authors</span></div><div style="box-sizing:inherit"><font color="#000000"><span style="background-color:rgba(255,255,255,0)"><a href="https://www.tni.org/en/bio/sol-trumbo-vila" class="m_1753749649689843511node m_1753749649689843511node-359 m_1753749649689843511entityreference" style="box-sizing:inherit;text-decoration:none;background-position:0px 0px" target="_blank">Sol Trumbo Vila</a>, <a href="https://www.tni.org/en/profile/matthijs-peters" class="m_1753749649689843511node m_1753749649689843511node-22822 m_1753749649689843511entityreference" style="box-sizing:inherit;text-decoration:none;background-position:0px 0px" target="_blank">Matthijs Peters</a></span></font></div></div><div class="m_1753749649689843511suites" style="box-sizing:inherit;margin-bottom:20px"><div class="m_1753749649689843511label-above" style="box-sizing:inherit;line-height:2.2rem;font-weight:700"><span style="background-color:rgba(255,255,255,0)">Projects</span></div><div class="m_1753749649689843511textformatter-list" style="box-sizing:inherit"><font color="#000000"><span style="background-color:rgba(255,255,255,0)"><a href="https://www.tni.org/en/corporate-power" class="m_1753749649689843511node m_1753749649689843511node-444 m_1753749649689843511entityreference" style="box-sizing:inherit;text-decoration:none;background-position:0px 0px" target="_blank">Corporate Power</a>, <a href="https://www.tni.org/en/work-area/democratising-europe" class="m_1753749649689843511node m_1753749649689843511node-443 m_1753749649689843511entityreference" style="box-sizing:inherit;text-decoration:none;background-position:0px 0px" target="_blank">Democratising Europe</a>, <a href="https://www.tni.org/en/public-sector-alternatives" class="m_1753749649689843511node m_1753749649689843511node-445 m_1753749649689843511entityreference" style="box-sizing:inherit;text-decoration:none;background-position:0px 0px" target="_blank">Public Sector Alternatives</a></span></font></div></div></div><div class="m_1753749649689843511body" style="box-sizing:inherit;margin-top:30px;margin-bottom:30px"><p style="box-sizing:inherit;margin:0px"><span style="background-color:rgba(255,255,255,0)">Bail outs in the EU have a hidden cost for taxpayers. On top of the public money used for the bail outs, contracts worth hundreds of millions of Euro have been given to a small number of financial consultants to advise member states and EU institutions.</span></p><p style="box-sizing:inherit;margin:22px 0px 0px"><span style="background-color:rgba(255,255,255,0)">The so-called Big Four audit firms (EY, Deloitte, KPMG and PWC), with a small coterie of financial advisors, have designed the bloc's most important rescue packages. Bail out consultants have also been rewarded with new business, even though many gave poor advice or failed to raise the alarm at crucial moments.</span></p><p style="box-sizing:inherit;margin:22px 0px 0px"><span style="background-color:rgba(255,255,255,0)">For years we have been investigating austerity measures and vast privatisation programmes in Europe. Following our last report on the privatising industry in Europe we decided to hone in on those firms involved in the numerous EU bail out programmes and found a shockingly similar pattern. The Bail-out Business reveals the hidden costs of the rescue packages and a troubling array of conflicts of interest.<br style="box-sizing:inherit"><br style="box-sizing:inherit"><em style="box-sizing:inherit">Correction 23/2/2017: Lazard was paid 3 million euros for a few days work</em></span></p><p style="box-sizing:inherit;margin:22px 0px 0px"><span style="background-color:rgba(255,255,255,0)">Watch the video:</span></p><p style="box-sizing:inherit;margin:22px 0px 0px"><span style="background-color:rgba(255,255,255,0)"></span></p><div><br></div></div></div></div><br>______________________________<wbr>_________________<br>
Networked-labour_igopnet mailing list<br>
<a href="mailto:Networked-labour_igopnet@lists.igopnet.cc">Networked-labour_igopnet@<wbr>lists.igopnet.cc</a><br>
<a href="http://grups.pangea.org/mailman/listinfo/networked-labour_igopnet" rel="noreferrer" target="_blank">http://grups.pangea.org/<wbr>mailman/listinfo/networked-<wbr>labour_igopnet</a><br>
<br></div><br><br clear="all"><div><br></div>-- <br><div class="gmail_signature" data-smartmail="gmail_signature"><div dir="ltr"><div><div dir="ltr"><div>Check out the Commons Transition Plan here at: <a href="http://commonstransition.org" target="_blank">http://commonstransition.org</a>  </div><div><br></div>P2P Foundation: <a href="http://p2pfoundation.net" target="_blank">http://p2pfoundation.net</a>  - <a href="http://blog.p2pfoundation.net" target="_blank">http://blog.p2pfoundation.net</a> <br><br><a href="http://lists.ourproject.org/cgi-bin/mailman/listinfo/p2p-foundation" target="_blank"></a>Updates: <a href="http://twitter.com/mbauwens" target="_blank">http://twitter.com/mbauwens</a>; <a href="http://www.facebook.com/mbauwens" target="_blank">http://www.facebook.com/mbauwens</a><br><br>#82 on the (En)Rich list: <a href="http://enrichlist.org/the-complete-list/" target="_blank">http://enrichlist.org/the-complete-list/</a> <br></div></div></div></div>
</div>