Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-03-08-Speech-2-296-750"
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"en.20110308.22.2-296-750"2
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"The report on innovative financing addresses a number of important aspects, such as the importance of creating a real internal market as a basis for European growth, the importance of enabling the financing of European infrastructure projects by means of European project bonds, as well as a possible solution with regard to a European carbon tax so that we can switch to sustainable production in Europe. The fact that the report points out that the EU Member States must meet the aid targets that have been set is also important.
We nevertheless chose to abstain in the final vote because we do not believe that it is a good idea for Europe to introduce a financial transaction tax independently if other countries do not also do the same. We 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.
We consider there to be a big risk that the stabilising effects that we hope a financial transaction tax will have 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 instead to less transparent and less open markets outside Europe is great. That will not create better conditions for control of the financial market and it would also undermine the joint European supervision of the financial market that we have put in place."@en1
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