Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-23-Speech-3-270-500"
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"en.20120523.15.3-270-500"2
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"I voted against this report because I do not think that a financial transaction tax would be effective, except if it were applied across the whole of the EU. Such a tax applied globally in a fair way could provide a significant source of income which would enable the financial sector to contribute fairly to the cost of the crisis. Otherwise, it would affect competitiveness and have adverse consequences which would be felt primarily by ordinary citizens.
We must adopt measures to remedy the impact of the economic recession and finance growth and sustainable development. However, I do not believe that such a financial transaction tax would achieve the desired results. I should stress that the tax should not have adverse consequences for the banking system. At the same time, I should point out that the possible risk of reallocating investments to less transparent areas ought to be examined."@en1
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