Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-10-Speech-3-970"
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"en.20100310.19.3-970"2
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"The financial sector has to accept its responsibilities for the economic crisis that still plagues us. Up to now, the real economy, taxpayers, consumers, public services and society in general have been the ones paying for a substantial part of the costs and consequences of the financial crisis. There are several Member States that have called for a tax on financial transactions.
The political and regulatory context in this area is different nowadays. There are new regulatory initiatives, such as the fight against tax havens, the removal of legal loopholes from management accounts, the requirements applicable to stock market transactions and the use of transaction repositories for the register of derived instruments.
The European Union must adopt a common position in the international framework of meetings of the G20. In order to do this, the Commission must assess the impact of a global tax on financial transactions before the next G20 summit.
This assessment must specifically evaluate the effects of the introduction of the tax on financial transactions in the European Union, as opposed to its introduction at global level. Costs have to be determined, as well as whether this tax will contribute to the stabilisation of financial markets."@en1
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