Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-03-08-Speech-2-306-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-03-08"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"pt"^^xsd:language2
lpv:document identification number	"en.20110308.22.2-306-000"2
lpv:hasSubsequent	lp_eu:2011-03-08-Speech-2-307-0002
lpv:speaker	lp:Miguel Portas2
lpv:spokenAs	member_of_the_bureau; EUL/NGL (2009-07-14--2012-01-22)3 member; Delegation for relations with the Maghreb countries and the Arab Maghreb Union (2009-09-16--2012-04-24)3 substitute; Delegation for relations with Iran (2009-09-16--2012-04-24)3 vice-chair; Special Committee on the Financial, Economic and Social Crisis (2009-10-15--2011-07-31)3 substitute; Delegation for relations with the Mashreq countries (2009-09-16--2012-04-24)3 substitute; ECON (2009-07-16--2012-01-18)3 member; Special committee on the policy challenges and budgetary resources for a sustainable European Union after 2013 (2010-06-17--2011-06-30)3 unknown; Bloco de Esquerda (2009-07-14--2012-04-24)3 member; BUDG (2009-07-16--2012-01-18)3 member; Delegation for relations with Iraq (2009-09-16--2012-04-24)3
lpv:translated text	"In order to tackle the global financial crisis and the major recession resulting from it, several governments have increased sovereign debt to unsustainable levels, with the aim of rescuing financial companies and stimulating their respective economies. At the same time, banks are accumulating profits through the differential between loans obtained from central banks at an interest rate of almost nil and the price at which they grant credit to customers and to states. Thus, it is a moral imperative for financial businesses to shoulder their responsibilities in the face of the crisis that they caused. A financial transaction tax is the least that can be demanded. To those seeking to delay this accountability, on the pretext that such a tax can only be introduced at a global level, I would say: (1) that the EU’s position would be greatly strengthened by the unilateral launching of this tax; (2) if a proportion of the capital applied in speculative transactions were to leave the EU, this would result in a reduction in the volatility of the financial markets, which would be beneficial; (3) if global financial regulation is not viable or advisable, sensible rules on the circulation of capital will be needed. The report is a step in this direction."@en1

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