Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-12-11-Speech-2-547-000"
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"en.20121211.32.2-547-000"2
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"Mr President, it is no surprise that only ten Member States at most are willing to adopt a financial transaction tax. The majority of states know that this tax would only push the financial sector out of Europe, to the further detriment of their economies. Insisting on forcing this tax through by means of enhanced cooperation will only make it more evident that it is the wrong way to go. The ill-fated Swedish initiative back in the 1980s should be seen as a good reason for not proceeding.
In addition, there are two aspects of the proposal that have not been laid out in clear terms and which are a matter of concern. The first and most important one is how it will affect non-participating Member States – because it will, notably in the case of cross-border transactions. The second one is how this FTT will be spent.
Regardless, I hope that the British Prime Minister will protect the City from any implications of this tax."@en1
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