Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-10-Speech-3-249"
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"en.20100310.19.3-249"2
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"The current motion for a resolution, which comes in the wake of the G20 discussions conducted as part of the Pittsburgh Summit and of the request made by some international bodies, such as the IMF, may provide a solution for both avoiding any new financial disasters and for recovering the sums which the treasuries have made available to the banks to save them from collapse. In any case, the adoption of such legislation in France and Belgium, in a pioneering spirit, is welcome (with the United Kingdom also examining the possibility of introducing similar legislation), and we expect to see its impact.
According to French estimates, the 0.005% tax will remove more than EUR 20 billion from the coffers of French banks. However, how is the banking sector going to respond? Will it restrict the number of speculative transactions, considered harmful, or will it take advantage of capital mobility and continue to carry out such transactions through bank branches located in states where this kind of duty does not exist?
This is why I think that the success of such duties requires a global approach, which also means presenting it to international bodies such as the UN. Even by doing this, it is difficult to believe that a joint global action can be achieved (compare offshore legislations)."@en1
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