Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-08-Speech-1-149"
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"en.20100308.17.1-149"2
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"Mr President, eleven years ago, I was one of the handful of Members who cofounded the cross-party Tobin Tax working group and our meetings were often met with a contemptuous smile. From the perspective of the turn of the millennium, we referred again and again to the apparent rationality of the market, to the risks for competition and possible cracks in globalisation.
It is no good if today, you continue to put forward these arguments. We have only just avoided a major crash, and that not only cost an awful lot of money, but also a lot of trust. If you now think we can slow down a little with such a financial transaction tax, then the speculators – as I will call them – that I personally have got along well with, in other words, investment fund managers as they are euphemistically called, have an entirely different view, because they are conducting their business along this dividing line ever more quickly and intensively.
That is why I am not convinced that a financial transaction tax on the volume of financial transactions would achieve anything more than the damping of these enormous speculative waves. I would really like those of you from the Commission and national governments to take heed, above all, of the words of our Green colleagues, but also those of Mr Bullmann and the Left. It is a political question; the technical aspects can be resolved quickly, as there are experts for that."@en1
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