Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-23-Speech-3-089-000"
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"en.20120523.5.3-089-000"2
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"Mr President, I can but welcome the report tabled before us, because it states clearly, at last, that financial transactions have been undertaxed compared with other types of transactions, and also because we propose a real, tangible solution in this crisis-ridden economic situation. This is the first step of European crisis management that will not be implemented merely at the level of international fiscal agreements, but will also have a practical impact.
I regret that this new European tax cannot be implemented globally, and perhaps not even throughout the entire EU. Even so, however, it will provide the European economy with considerable revenues. Enhanced cooperation is a useful tool that can help ensure that financial transactions are conducted in a regulated and more traceable manner, thus eliminating the risk of the financial sectors once again becoming entirely detached from the real economy.
A further merit of the report is that it very correctly goes on the assumption that the financial sector – which, through its speculative conduct that set its own short-term goals above all else, was one of the main agents of the crisis – did not assist in crisis management, and would have preferred to benefit from the crisis, if you will. The report addresses this contradiction, and excludes in a professional manner transactions that had not attracted a transaction tax, thereby improving transparency and reducing the risk of tax evasion and tax fraud. I therefore recommend that this report be adopted."@en1
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