Local view for "http://purl.org/linkedpolitics/eu/plenary/2001-10-22-Speech-1-118"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2001-10-22"^^xsd:date2
dcterms:Is Part Of	lp_eu:International monetary system2
dcterms:Language	"de"^^xsd:language2
lpv:document identification number	"en.20011022.8.1-118"2
lpv:hasSubsequent	lp_eu:2001-10-22-Speech-1-1192
lpv:speaker	lp:Wolfgang Ilgenfritz2
lpv:spokenAs	member; BUDG (1999-07-21--2002-01-14)3 member; Delegation to the EU-Hungary Joint Parliamentary Committee (1999-09-29--2002-01-14)3 unknown; Freiheitliche Partei Österreichs (1999-07-20--2004-07-19)3 substitute; Committee on Culture, Youth, Education, the Media and Sport (1999-09-16--2002-01-14)3 member; NA (1999-07-20--2004-07-19)3
lpv:translated text	"Mr President, the large number of monetary crises and the negative consequences they have for the global economy as a whole require joint action. There are many who believe that the introduction of a tax on global financial transactions could prevent future financial crises. Personally, I am glad that this opinion is not held by many in the Committee on Economic and Monetary Affairs. I do not believe that introduction of the Tobin tax could prevent financial crises. Let capital make its way to where it is of the greatest use, in other words, let it be invested in new markets, developing countries and so on. By that means, growth can be produced. If we now make the transfer of capital expensive and limit and regulate it, the effect would only be counter-productive. Introducing it would also make sense only if it could be done internationally and without loopholes. This seems impossible, so that this tax will result only in additional burdens, bureaucracy and so forth, without the actual objective – the limitation of financial crises – being able to be achieved."@en1

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