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Ethical Banking: could this be a sustainable future?

I recently discovered the term of Ethical Banking. I also discovered that this term is not new.
These kind of Banks claim to be sustainable and social and environmentally responsible in the financial sector.
They claim that Ethical banking can positively impact societies worldwide because it does not help to fund companies that deal in morally questionable businesses.
The also claim that you gain more control of how and where your bank invests its money and you are safe in the knowledge that your money will not be used by businesses which have a negative impact on the world.
Traditional Banks seem to have failed providing a secure investment or saving account to the customers. Cyprus is an example.

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  • Jul 4 2013: Let's look at Cyprus. In my opinion. the economic crisis in Cyprus is not due the "unethical" banking. On the contrary, the economic problem was due to the "ethical" spending from government welfare, and then the government asked the banks to issue bonds to finance the debt for such spending. Most of the bank loans from the banks were made to the tourist industries AND THE GOVERNMENT. Can you estimate what proportion of the Cyprus banks money was loaned to those "businesses" which have a negative impact on the world? Remember, the Russian gambling casinos were the depositors, not the borrowers, to the Cyprus banks.

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