Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-23-Speech-3-040-000"
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"en.20120523.3.3-040-000"2
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"Mr President, I would suggest that Mr Martin actually read the 20 annexes that the Commission produced in its first assessment. There is a lot of detail in there that demonstrates some of the detrimental effects that this tax could have, and I would urge him to speak to some of those corporates, those European headquartered individual companies, who come to me and tell me that the average number of transactions for each hedge they put on means 13 transactions that a bank will have to put on. That is 26 times the tax; that is a phenomenal burden to put on a hedge for a business transaction.
We have just exempted corporates for clearing their transactions for hedging within the EMIR dossier and within the CRD dossier. Why on earth would we now want to impose a tax upon them when we are actually trying to stimulate the economy?"@en1
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