Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-03-08-Speech-2-311-000"
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"en.20110308.22.2-311-000"2
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"I supported the Podimata report which includes a number of good ideas regarding a global financial transaction tax. The truth is that much of the financial sector, particularly the investment banks, has still to reform itself following the flaws that were revealed by the financial crisis. Even the Governor of the Bank of England, Mervyn King, admitted last week that the cost of the austerity measures being taken in Britain, and across Europe, were being borne by ‘people who were utterly blameless’ while the financial sector had gone back to a ‘business as usual’ mentality.
It is right that the private sector should pay its share for the consequences of the financial crisis and provide for any future bail-out given the existence of many banks which are still deemed ‘too big to fail’. The onus is now on the IMF, and the European Commission, to assess the positives and negatives of a global financial transactions tax."@en1
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