Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-08-Speech-1-141"
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"en.20100308.17.1-141"2
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"Mr President, Commissioner, ladies and gentlemen, the financial crisis we are experiencing has forced public authorities to intervene financially using public money.
Under these circumstances, it is tempting to consider the implementation of a tax on financial transactions. The income from this tax would be used, for example, to finance the recovery and to develop a sustainable economy, and could initially serve to offset the cost of the crisis borne by the real economy and the taxpayer. This tax would be added to the regulations governing the financial sector, the elimination of tax havens or even the regulations currently being drawn up for derivative products.
At this stage, it would be advisable to evaluate the effects of a tax on financial transactions. That is the main purpose of this oral question: to encourage the Commission to examine in practical terms the various points listed in the draft resolution in order to give an opinion on the feasibility and timeliness of such a tax.
Commissioner, what you have just said is a step in the right direction. It should, however, be stressed – as you have done – that this measure will have to be approached in a realistic and pragmatic way. Such a tax must not be harmful to the European economy or to the competitiveness of the European financial industry.
More generally, it is important to underline the consequences of implementing this tax in the European Union alone, as some people are advocating, if no agreement were possible at international level. We believe that this sort of purely European solution cannot be countenanced."@en1
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