Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-03-08-Speech-2-309-000"
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"en.20110308.22.2-309-000"2
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"The recent economic crisis has laid bare the shortcomings of the system for regulating and supervising global finance.
All too often, the volume of these transactions has far exceeded the needs of the real world, causing speculation which, over time, has made the capital involved extremely volatile and at risk of insolvency. The first to take the brunt have been taxpayers, also in terms of rising unemployment, dwindling incomes, reduced access to social services and increasing inequalities.
To prevent future crises, the EU now needs to promote real changes in regulation and supervision, giving shape to a more healthy and robust financial environment. The idea of a levy on financial transactions has important advantages, especially in the aftermath of a crisis like the present one: stabilising the markets, providing incentives for long-term investment and ensuring traceability for the auditing of individual transactions.
Curbing speculation, supporting long-term investment and achieving greater long-term growth under the EU 2020 strategy: it is important to complement all this by introducing a similar system of financing outside the European Union as well, in order not to give rise to competitive disadvantages against us."@en1
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