Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-08-Speech-1-165"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2010-03-08"^^xsd:date2
dcterms:Is Part Of	lp_eu:Taxation of financial transactions (debate)2
dcterms:Language	"ro"^^xsd:language2
lpv:document identification number	"en.20100308.17.1-165"2
lpv:hasSubsequent	lp_eu:2010-03-08-Speech-1-1662
lpv:speaker	lp:Elena Băsescu2
lpv:spokenAs	member; EPP (2009-07-14--2014-06-30)3 unknown; Partidul Democrat-Liberal (2009-07-14--2014-06-30)3 member; Delegation for relations with Israel (2009-09-16--2014-06-30)3 substitute; Delegation to the EU-Moldova Parliamentary Cooperation Committee (2010-01-20--2014-06-30)3 substitute; Delegation for relations with the United States (2009-09-16--2012-02-12)3 member; PETI (2009-10-07--2012-01-18)3 substitute; AFET (2009-07-16--2012-01-18)3
lpv:translated text	"I believe that the introduction of a financial transaction tax will be of absolutely no help at all. It will not help to get us out of the financial crisis, nor will it help prevent a new crisis, nor will it contribute to the stability of the financial markets. This measure would only result in raising the cost of capital and credit and would put a brake on investment. Before introducing a new tax, the European Commission must examine very carefully the pros and cons this tax will entail. If the decision is made to introduce a levy on financial transactions, this may affect the competitiveness of the European economy globally. Double taxation must also be avoided, as well as the creation of obstacles blocking the free movement of capital. The costs arising from such a tax must not be borne by ordinary citizens. It would be appropriate to consider introducing this kind of tax in countries where there are accumulations of speculative capital, resulting in the creation of short-term external debts. This measure could prevent the accumulation of speculative capital. In 2009, Sweden introduced an annual stability fee to be applied to banks and credit institutions amounting to 0.036% of the total of certain liabilities. However, the implementation of such a tax is not justified in Romania. In the context of the negotiations conducted between the Romanian Government, the IMF and European Commission, legislative amendments were agreed on the special administration procedure to allow the National Bank of Romania to intervene rapidly and effectively when a credit institution is in difficulty. Against this background, I would like to ask the European Commission what mechanisms or formulae are being considered for protecting countries against the accumulation of speculative capital and whether it is considering other measures as well for regulating and supervising the financial system. Thank you."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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