Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-23-Speech-3-103-000"

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"Mr President, with today’s, vote, the European Parliament can send a very strong signal both to the Council and to the representatives of the Member States who reject this important step, but, in particular, to our citizens, as to date it has been the citizens of the European Union Member States who have been made to foot the bill for the debts of the banking sector. The introduction of a financial transaction tax may be important when addressing the consequences of the crisis not only in the Member States but also for the general budget of the European Union. The method by which a tax thus collected will be distributed between the common budget will therefore be very important, as will the method by which the contributions made by the EU’s Member States will be reduced. However, I believe that by introducing this system, we could gain almost EUR 57 billion per annum, and the system would also enhance the functioning of the single market. It also eliminates distortion of competition and will discourage financial institutions from risky and speculative activities."@en1
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