Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-23-Speech-3-110-500"
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"en.20120523.5.3-110-500"2
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"The resolution before us sends out a clear signal and supports the conviction that the social democrats have had for a long time that the crisis can only be overcome if the financial sector is put in its place.
To avoid the excesses of the banks in 2008 from being repeated in the future, we need to rigorously pursue two goals. Firstly, ladies and gentlemen, it must not be possible for banks to operate in such a short-sighted and reckless manner in the future. Secondly, we must invest more in the real economy in order to stem the power of the financial sector in today’s economy. Both of these things can be achieved by the planned tax. Even the extremely low tax rates of 0.01% and 0.1% would provide the Member States with additional resources of up to EUR 100 billion. That EUR 100 billion could relieve the burden on severely stretched budgets and be used to invest in lasting growth.
I am confident that you will all use your votes to give this proposal the necessary emphasis, and I call on all the Member States not to block the Commission’s proposal in the Council. However, should such a common EU-wide solution fail due to a handful of naysayers, then the remaining Member States must set a good example by pushing ahead via the process of enhanced cooperation."@en1
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