Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-03-07-Speech-1-078-625"

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"en.20110307.17.1-078-625"2
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"After having experienced the financial crisis, which demonstrated the volatility of the financial institutions’ stocks, we considered it necessary to introduce a tax on financial transactions at European level, an issue which was also discussed extensively by the European Council. The S&D Group, to which the designated rapporteur belongs, deserves most of the praise. We managed to send out a strong signal, especially by adopting the most problematic amendment, which aims to introduce the tax at European level, rather than globally. In this way, we show our good intentions and our firm belief that the measures can have a higher efficacy in the EU, with quantifiable and immediate benefits. In this regard, I must repeat that the austerity policy, promoted heavily by conservative governments, is deeply inequitable and even demagogic, especially since the economic crisis was not caused by ordinary people, but by the financial and banking institutions, which had an excessively liberal concept of the financial system. Resurgence should be considered in terms of equity and therefore, this tax is the best measure we have at hand."@en1

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