Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-12-11-Speech-2-561-000"
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"Mr President, I have consistently opposed the imposition of an EU-wide financial transaction tax. Whilst I am quite prepared to ensure that bankers and speculators carry their share of the financial burdens that many ordinary people face, I am firmly of the belief that this measure neither recognises, nor provides a solution to, the primary cause of Europe’s vast economic problems: the folly of the single currency and the sovereign debt crisis. This proposal seeks to establish a more limited FTT under enhanced cooperation. It is an experiment for launching a revised EU-wide proposal. The committee assures us that non-participating countries will remain unaffected by the tax. However, given the intricacies of the transactions involved, this pledge is professionally regarded as unrealisable. The contribution of the United Kingdom to the European Union budget is already vast. I have no wish to see hard-working and hard-pressed families in the United Kingdom suffer any further from these proposals from the European institutions."@en1
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