Local view for "http://purl.org/linkedpolitics/eu/plenary/2000-01-20-Speech-4-085"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2000-01-20"^^xsd:date2
dcterms:Is Part Of	lp_eu:VOTE2
dcterms:Language	"fr"^^xsd:language2
lpv:document identification number	"en.20000120.5.4-085"2
lpv:hasSubsequent	lp_eu:2000-01-20-Speech-4-0862
lpv:speaker	lp:Jean-Claude Fruteau2
lpv:spokenAs	vice-chair; Delegation for relations with the countries of South Asia and the South Asia Association for Regional Cooperation (SAARC) (1999-07-13--2002-01-14)3 member; Members from the European Parliament to the Joint Parliamentary Assembly of the Agreement between the African, Caribbean and Pacific States and the European Union (ACP-EU) (1999-09-14--2002-01-14)3 unknown; Parti socialiste (1999-07-20--2004-07-19)3 member; PES (1999-07-20--2004-07-19)3 substitute; Committee on Regional Policy, Transport and Tourism (1999-07-22--2002-01-14)3 member; Committee on Development and Cooperation (1999-07-21--2002-01-14)3
lpv:translated text	"Our economic system has shown its limitations. The financial sector is not in phase with the real economy and too often upsets it. Our high rates of unemployment, the marked increase in the gap between North and South and the increase in poverty on a worldwide scale are evidence of this sad reality. International capital movements are destabilising factors. That is why we must seek measures to tax transactions on the foreign exchange markets in order to reduce their volatility and to curb short-term speculative transactions. The fact that a tax such as that envisaged by James Tobin, the recipient of the Nobel Prize for Economics, would represent a tiny blip in the excessively well-oiled machinery of speculation and the considerable amounts of money that it could generate are valid arguments in favour of its implementation, especially when you realise that even by adopting a very low rate (about 0.05%), it would bring in almost FRF 600 billion per year, according to the most conservative estimates! In this context, the United Nations Conference on Trade and Development (UNCTAD) proposes that this sum be paid back to the states where the tax would be collected and to a redistribution fund for the poorest countries. The wealth recovered in this way from the large international capitalists would be redirected to the people and could form a considerable lever to achieve development for the poorest countries. We would finally have arrived at a situation where solidarity took the place of selfishness. For all these reasons I voted in favour of this resolution and I am very pleased that the House has now dealt with this subject, at the risk of annoying the unscrupulous speculators whose actions destabilise the most vulnerable economies, and sometimes even our whole system, as can be seen from the recent financial crises in south-east Asia."@en1

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