Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-03-07-Speech-1-063-000"

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"Mr President, the financial crisis has meant that we have to consider fair sources of income to achieve growth and prosperity. This report contains both helpful and also problematic initiatives. What is problematic in the report is the proposal for EU project bonds, or Eurobonds, which I absolutely oppose. Eurobonds would blur the responsibility that Member States have for their own economies and saddle the Member States that have successfully attended to their own affairs with these increased interest payments. They would entail a ‘moral hazard’, as they say. Nevertheless, I support this ‘stock exchange tax’, the financial transaction tax, regarding which we should get an impact assessment from the Commission as soon as possible. I might even ask the Commissioner here present: when could we have this impact assessment? It is also good that this report has paid a good deal of attention to the financing of development cooperation, because the harshest consequences of the financial crisis in human terms threaten to affect those who are assuredly the least to blame of all for this situation, which is to say, the people in the developing countries. The world’s poorest of the poor have to suffer because several countries in an economic recession are cutting their development aid, and even their humanitarian emergency aid. The report also quite rightly reminds us of the importance, not just of development cooperation, but also measures put in place by the developing countries themselves. These countries need to step up their own efforts in the area of taxation, specifically tax collection and the fight against tax evasion. The EU, meanwhile, should improve the coordination of the currently fragmented system of development aid and step up the fight against tax havens."@en1
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