Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-08-Speech-1-160"

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"en.20100308.17.1-160"2
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"Mr President, the European Parliament is right to present a set of questions on this issue and not to give a final position on the new tax on financial transactions. There are, moreover, several reasons for that. You only have to listen to what the indefectible supporters of this tax have been telling us. They say that it is a political problem, that the technical solutions hardly matter. Firstly, let us go ahead with the tax, and then we will see how it is going to be implemented. It is a mistake. It is not possible to solve the problem of the financial crisis with ideology. Secondly, they say this would be a tax that might help the most disadvantaged, a kind of Robin Hood tax, since the most advantaged overcome their situation with the growth of the economy. The issue of European or global scale hardly matters. It also avoids resolving the issue. What would happen if only Europe had this kind of tax? There are several elements that must be taken into account. In a time of crisis, it is not by means of a new tax that one can solve any problem. It is not by means of a new tax that we will solve the problem of public finances. It is not by means of a new tax that works as a kind of penalty tax, a punitive tax, a tax intended to punish those responsible for the crisis. End consumers are the ones who suffer with a new tax. Those in need of credit are the ones who suffer with a new tax. Secondly, there is a series of technical problems to discuss. Those that do not matter. Is there one European administrative system that might implement a tax such as this one? Can anyone tell us the cost of this implementation? Can anyone tell us what its effect on liquidity and credit will be? How is a global tax going to be applied with time differences and transactions by the second? How can all this be controlled? All these questions are still to be answered. It is my view that we should learn from a crisis and adopt positions. I doubt the new tax is the right one."@en1
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