Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-23-Speech-3-308-500"
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"en.20120523.15.3-308-500"2
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"The global financial crisis spread rapidly to countries’ real economies, in some cases with profound consequences for their social, economic and even political systems. State intervention in certain financial institutions, as a last resort, has entailed the use of large sums from public funds. For this reason, and owing to the implementation of serious austerity measures that are affecting the daily lives of EU citizens, I agree that the financial sector should contribute to the costs of this crisis. The main objectives of applying a financial transaction tax are as follows: to make the financial sector pay the cost of the crisis like other sectors; to disincentivise excessively risky speculative activities and reorient the sector towards investment that will bear fruit in the long term; to complement regulatory measures aimed at avoiding future crises; and, finally, to generate additional revenue for the EU’s own resources or associated policies and public goods, in particular, development aid and combating climate change. However, in order for this to have a knock-on effect, it must be implemented in as many countries as possible. The EU should therefore take the lead in applying this tax in the Member States in order to create a progressive overall dynamic."@en1
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