Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-23-Speech-3-299-500"
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"en.20120523.15.3-299-500"2
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"I voted in favour of this report because I welcome the European Commission’s proposal to introduce a financial transaction tax (FTT). For several years, the Group of the Progressive Alliance of Socialists and Democrats has been calling on the European Commission and the EU Member States to curb the profits of financial speculation. The economic crisis has demonstrated even more clearly that this tax is necessary and has finally prompted the European Commission to make a legislative proposal. An FTT will reduce the risk of speculation and will make the financial sector more stable. Investors will consider long-term investments rather than the pursuit of short-term benefits that only last a day. The predicted annual revenue of EUR 100 billion will enable countries hit by the crisis to invest in job creation, innovations and will stimulate the progress of the green economy. Of course, it would be logical to introduce such a tax at global or at least EU level. The unwillingness of several countries to regulate speculative manoeuvres should not hold all EU Member States hostage. However, if we are unable to reach a common agreement, individual EU Member States or groups of them, as proposed in the report, could themselves decide to introduce FTT operations in their own countries."@en1
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