Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-08-Speech-1-157"

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". Mr President, Commissioner, in the current crisis, there are only two choices before us. The first is to make the people pay for the crisis, as we have been doing: through austerity plans, unemployment action and tax rises like the recent increase on VAT in Greece. The other is to tax speculative capital movements and financial transactions. That would generate considerable revenue for the European economy and I believe that it would be a weapon against the financial crisis that we are currently experiencing. It would also be necessary to have the courage to close tax havens. This suggestion is in no way revolutionary, since it is already included in G20 agreements. Some of these principles were even debated and voted on here, but it is urgent that we go further than making aimless proclamations. We must put an immediate end to this lethal speculation. In fact, several economists believe that if we applied a low tax rate of 0.5% to financial transactions, it would make a further EUR 500 billion available to the European Union. That is money that we could use for a recovery based on work, training, research, salaries, and new environmentally friendly, industrial and agricultural policies. We need, therefore, to start taking action. We need to have the courage to vote for the principle of such a tax and to then implement it."@en1
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