Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-10-21-Speech-3-234"
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"en.20091021.10.3-234"2
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"Madam President, in her speech, Mrs Malmström said that action was needed, not just fine words. I can tell you that the Group of the Greens/European Free Alliance will follow the results of this summit between the United States and the European Union very closely, since it comes at a key moment in the path leading us, on the one hand, to Copenhagen and, on the other, to the reform of the international financial system.
On this last point, the casino has now reopened, banks’ profits are once again reaching historic levels – USD 437 billion in profits for the US banks – and our view is that there is less political will than there was six months ago. We therefore have enormous expectations of this summit, which is intended to show that, in both the US and Europe, the political will to regulate capitalism and to regulate the financial institutions is still present.
In order to achieve this, we would like to suggest that progress be made on two very important points. The first is combating tax havens, and this is something that was not mentioned in your speeches. The US Treasury admits that tax havens result in a yearly tax revenue loss of USD 100 billion. We therefore wanted to emphasise this point and to tell you that it is important for the United States and Europe to work jointly on this issue at the summit.
The second point, which has just been mentioned, is the tax on financial transactions. When Mr Barroso was a candidate for re-election to the presidency, he expressly said that he was in favour of such a tax. A fortnight ago, the European Parliament for the first time voted, by a majority, for a tax on financial transactions, provided that they formed part of an international framework. The Group of the Greens therefore calls upon you to put this subject on the agenda for the United States/European Union Summit in early November.
My last point is that on climate, we have a responsibility to remove a thorn from Mr Obama’s foot. President Obama wants to act, but he is blocked by his majority. The best thing that the European Union could do for him is to make an undertaking, at the end of October, to provide EUR 30 billion of funding for climate adaptation expenditure in the global South and to commit to a 30% reduction in its own emissions. Once this is done, we will be able to make progress in negotiations. This is our responsibility. We must do it before the summit."@en1
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