Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-08-Speech-1-164"
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"en.20100308.17.1-164"2
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"Mr President, it has been no less than 40 years since, as students, we discussed a new international economic order, one part of which included a proposal to use special drawing rights (SDR) loans to the IMF and to include a sort of tax on national governments which would be used for helping poor countries. This, as we know, did not materialise.
Many years later, realities have changed: globalisation, together with the advancement in technology and the stronger political will, has made certain plans more doable. The number of global policy objectives has, however, increased. Besides poverty, which unfortunately is still with us, we are also concerned with global environmental problems like climate change, and now we are essentially talking about a sort of global insurance premium to compensate victims for the social and economic pain caused by financial catastrophe.
We have to be careful when faced with multiple objectives. I suggest that we abide by the wise rule, that we ensure that for each objective, we need a separate instrument. Let the Commission be bold, but we must ensure that the financial transaction tax must be very focused and doable. Let us not try to make it all things to all people."@en1
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