Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-08-Speech-3-019"

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"Madam President, allow me to welcome Mr Reynders. I hope everything is well with you. As regards the bank levy, I do not, in principle, have any problems with it at all. I just wonder how it is supposed to work in practice. It reminds me of a bus: everyone wants to get on it, but everyone wants to go in a different direction. As for the financial transaction tax, I think it is a good example of a bad idea. It is basically a sort of European Tobin tax. Although, we do not call it that any more, because nowadays even Mr Tobin himself is opposed to that tax. It scares capital away and Sweden has been a very good example of that. This also begs the question of what we are going to do with the revenue from such a tax? Are we going to use it to contribute to the EU’s own resources? This issue is bound to be very divisive, so my advice to you, Mr Reynders, is: there might be very good intentions behind your plan, but please drop it. Put the plan on ice or, better still, leave it outside to die of hypothermia. Surely, we cannot just go solo. Now, I would like to pick up on what Mr Schulz has said, although he does not appear to be listening to me right now. Yesterday, he said that he would like to force the European Commission to take the initiative on the financial transaction tax. He wants to bring people out onto the streets. My advice would be, do not go down that route. We will take a European citizens’ initiative against this tax because it is the ordinary man on the street who will have to pay it."@en1
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