Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-03-07-Speech-1-045-000"
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"en.20110307.17.1-045-000"2
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"Mr President, in a few months, it will be four years since we felt the first symptoms, the first effects of this devastating economic crisis, the worst the world has seen in the last three quarters of a century.
It began as a great international upheaval in the financial world; then it became an economic crisis and expanded into the real economy, affecting growth and jobs, and causing severe social impact; and we should not forget that, for hundreds of millions of people around the world, it is a humanitarian crisis.
Since then, we have seen numerous international meetings, most notably of the G20, with a strong presence of European Union Member States. Many firm statements and formal undertakings have been made at these gatherings to reform the international financial institutions, to reform tax systems, to introduce levies on international financial transactions. However, they have all been little more than formal statements.
In fact, all the actual work needed to fight tax havens and reform the financial institutions is yet to be done.
I would like to establish a link between this report and the needs of development policies. Developing countries suffer the effects of the crisis to a greater extent than others: they have less growth, fewer jobs, greater difficulty in obtaining external funding, larger debts and less official development aid. The financial transaction tax would provide a potent new source of development funding.
I therefore believe that these aspects of the Podimata report deserve our support, and I would at this point like to call on Parliament to be true to itself, reminding the House that introduction of the levy was approved by this Chamber in March 2010 in a report on the impact of the crisis on developing countries."@en1
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