To all banks

We are about to enter one of the most uncertain periods of the last 70 years, when it comes to business and business confidence. With COVID 19 many small to medium businesses will close down and many large companies will have to restructure causing unprecedented unemployment levels, comparable to the great depressions.

i speak from the perpective of a small business, the uncertainty is crippling. Many small business will close down by the end of this pandemic, creating possibly millions of unemployed people.

I would like to put forward a suggestion that all banks collectivly apply a 6 month holiday on ALL debtors, be it bonds, loans, asset finance, credit cards etc.

The moneys put forward by donors and goverment must be used to cover operational expenses for the banks. The banks that lend banks money ie: reserve banks should apply the same 6month holiday.

My thoughts behind this is to drive the economy forward post COVID19. I do not believe that this crisis will end after shutdown, there will be a 6 month window before we get back to normal lives.

It is within that 6-12 months where, we either turn the economy or create  a 3-5 year stagnation period. By offering a 6 month holiday, people will spend that extra money on services, assets or business creating a new economy and growth.

This will not only encourage growth, but possibly decrease unemployment, and kickstart the economy. 

Should the banks just sit and wait, I forsee massive unemploment, reposessions of assets, homelessness and worst case suicides. There is a direct link between debt and suicide.

You have the power and the means to change the outcome, time to step up and save the world.