Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-03-08-Speech-2-288-000"
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"en.20110308.22.2-288-000"2
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"I welcome this vote on the tax on financial transactions because the European Parliament is calling for the Union to implement this tax scheme without waiting for a hypothetical decision on the matter at global level. The European Union has the largest financial sector in the world. It should therefore lead the way.
According to various studies, the creation of a tax of around 0.05% on transactions would generate some EUR 200 billion of annual revenue to be used to finance the recovery and development cooperation, and to protect the environment, while, at the same time, discouraging financial speculation. Having said that, I also remain convinced that we need a tax of this kind at international level: the Union must encourage its partners to adopt regulations on financial taxes.
I say this because, if this tax is applied only in the European Union and not internationally by Europe’s main financial competitors, the Union’s finances will suffer greatly. In particular, I hope that a compromise will be reached on this point during the French Presidency of the G20."@en1
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