Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-23-Speech-3-270-000"
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"en.20120523.15.3-270-000"2
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"The current economic and financial crisis has affected European Union Member States and caused a drop in the living standard of a considerable number of EU citizens. Likewise, it may be considered that a number of the features of the global markets, such as the rise in the volume of financial transactions, the inclination towards short-term and high-risk operations, along with the development of high-frequency trade, are relevant to the financial system turning into a highly volatile sector with a predisposition to regular crises.
I support the report’s adoption because of the benefits which the financial transaction tax may bring at European level: generating new sources of income amounting to roughly EUR 57 billion, along with automatically discouraging speculative transactions involving high risk, which have played a prominent role in triggering the current financial crisis. Introducing the tax, along with implementing an efficient system of supervision, may result, in the medium and long term, in realigning the system of transactions towards productive, sustainable investments for Europe’s economies."@en1
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