Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-03-08-Speech-2-289-500"
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"en.20110308.22.2-289-500"2
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"The report on innovative financing addresses a number of important aspects. Unfortunately, it contains a proposal for Europe to introduce a financial transaction tax on a unilateral basis. I believe that the Swedish example of the unilateral introduction of a kind of financial transaction tax in the 1980s, which resulted in the majority of trade in shares, bonds and options moving to London, should be taken into consideration so that we do not make the same mistake at European level. I consider there to be a big risk that the stabilising effects on the financial market will not be realised if the EU introduces such a tax independently. The risk of trade in shares, bonds and options transferring to less transparent and less open markets outside Europe is great. That will not create better conditions for control of the financial market. I therefore voted against the amendment that proposed a European Tobin tax but, in spite of the fact that this proposal was voted through, I chose to vote in favour of the report in the final vote.
This choice was made on the basis of the fact that, as Europe 2020 negotiator for the Group of the Alliance of Liberals and Democrats for Europe, I would otherwise have risked undermining the group’s negotiating position on what are, for us, important issues, such as the importance of creating a real internal market, enabling the financing of infrastructure projects by means of European project bonds, and a possible solution with regard to a European carbon tax."@en1
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