This paper examines the unexpected back to the future modernization of "alternative banking" (mainly not-for-profit cooperative, savings and special purpose government banks) across Europe since 2000 and explores how alternative banking institutions may provide policy options to recover from crises, sustain social inclusion and accelerate sustainable development.

The paper also explores the implications of this back to the future modernization of social and public banking for banking theory, policy debates and strategies for recovery from crisis in Europe and abroad.