On Monday 18th of April, Alliance president Monique Leroux spoke at the Libera Università Maria Ss. Assunta (LUMSA), a leading Rome university, on the topic of “Sustainable Mercy in Finance”. The event was co-organised with the International Research Centre on Co-operative Finance and three other organisations.
Sustainable Mercy in Finance means “giving a second chance” and refers to businesses who have failed but have promising projects, to be given a second chance to recover.
Monique Leroux, in her speech said: "Co-operative businesses are fully engaged in long term capitalism and contribute to sustainable prosperity for people and communities. Long-term capitalism or sustainable capitalism, defines how coops do business. With the economic turmoil major economies are facing, long-term capitalism is revealing itself as a suitable solution. The financial system has to work for people, communities in a perspective steering away from short-term results pressure which often misleads decision-making."
Libera Università Maria Ss. Assunta (LUMSA) is a partner of Alphonse and Dorimène Desjardins International Institute for Cooperative, founding Institute of IRCCF. Find the Full program here.
Monique Leroux was next invited by Confcooperative, the confederation of Italian Co-operatives, for a meeting on co-operative banks, welfare and worker buyout.
The Assoziazione Nazionale Fra le Banche Popolari also welcomed Mrs Leroux to deliver an address on co-operative banking. Mrs Leroux emphasized the historic link between the Canadian and Italian co-operators: "Alphonse Desjardins, the founder of the co-operative movement in Canada, was inspired by the popular bank model in Europe, particularly Italy. Alphonse Desjardins communicated with Luigi Luzzatti in 1898 to learn more about the Italian model. This was the beginning of a long correspondence in which M. Luzzatti became a very close advisor to M. Desjardins as he was setting up the very first popular bank in Canada. Their relationship even went beyond co-operation as the two of them commented and exchanged on politics. Already then, in an era of limited means of communications, co-operation extended beyond borders."
(Photo: Mrs Monique Leroux with Canadian Ambassador Peter McGovern)
Photo: Monique Leroux with co-operators from Confcooperative, the confederation of Italian Co-operatives. On the right, Mr Carlo Scarzanella, Alliance board member.
