Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-23-Speech-3-280-125"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2012-05-23"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"mt"^^xsd:language2
lpv:document identification number	"en.20120523.15.3-280-125"2
lpv:hasSubsequent	lp_eu:2012-05-23-Speech-3-280-2502
lpv:speaker	lp:Louis Grech2
lpv:spokenAs	substitute; Delegation to the Parliamentary Assembly of the Union for the Mediterranean (2009-09-16--2013-03-12)3 member; Delegation for relations with Australia and New Zealand (2009-09-16--2013-03-12)3 substitute; Delegation for relations with Albania, Bosnia and Herzegovina, Serbia, Montenegro and Kosovo (2009-09-16--2013-03-12)3 substitute; Delegation to the Euronest Parliamentary Assembly (2009-09-16--2013-03-12)3 unknown; Partit Laburista (2009-07-14--2013-03-12)3 member; S&D (2009-07-14--2013-03-12)3 substitute; BUDG (2012-01-19--2013-03-12)3 vice-chair; IMCO (2012-01-24--2013-03-12)3
lpv:translated text	"For far too long, banks took excessive risks without any proper supervision. Financial institutions played a major role in causing the global economic crisis, but it has been ordinary citizens – as opposed to the banks’ handsomely remunerated executives – who have borne the cost. Therefore, in addition to strengthening regulatory oversight, we should ensure that the financial sector contributes its fair share to the exchequer. Although the initiative clearly has some merits, I have a number of concerns that mean that I cannot vote for this proposal as it stands. Firstly, it is not being implemented globally, or even on an EU27 basis. This could mean that financial institutions could simply move from a jurisdiction where the tax applies to one where it does not. In Malta, as in some other Member States, the financial sector contributes substantially to national GDP and employment. Implementing the FTT would be a risk at a time when we can ill afford to lose jobs or deter investment. Furthermore, although the tax will be levied on banks and financial institutions, it is important that we ensure that this does not result in extra charges for ordinary bank users or pensioners."@en1
lpv:unclassifiedMetadata	"Louis Grech (S&D ),"1 "in writing."1

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