Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-23-Speech-3-272-000"

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"en.20120523.15.3-272-000"2
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"I am not opposed to the idea of a financial transaction tax but I do regard the method of its implementation as harmful. I see the main problem as being that the financial transaction tax will be limited to the EU and will not have a global dimension. Capital will therefore have the option of flight and it will undoubtedly make use of this. I understand that some European politicians are unsettled by the financial ping-pong going on over their heads, but the introduction of a European tax that will be easy to run away from is no solution. Capital behaves, in short, like a timid beast, scurrying off at the slightest whiff of any tax risk. The expected EUR 55 billion revenues from the transaction tax are, in my view, chimerical. Introducing this tax would make sense only if it was a worldwide tax. If it is introduced only in the EU, it will undermine competitiveness at a time when we desperately need economic recovery."@en1

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3http://purl.org/linkedpolitics/rdf/spokenAs.ttl.gz

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