Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-23-Speech-3-289-000"
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"en.20120523.15.3-289-000"2
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"I voted against the report on the financial transaction tax. Since the compromise amendment 52, tabled by Astrid Lulling, on the exemption of UCITS from the scope of the FTT was rejected, I found it unacceptable to vote in favour. In principle, the possible introduction of the FTT, even if approved by the Council – which looks highly improbable as several governments have voiced their opposition – is not going to address the main issues of the economic crisis or to really regulate the financial markets. At the end of the day, we lack guarantees that it will not be the citizens who have to pay more. Furthermore, no rules have been foreseen to supervise the implementation of the proposed FTT. On the other hand, financial services will have good incentives to move outside the EU. As there are no realistic prospects of introducing the FTT on the global or even on the EU scale, it will be cheaper to abstain from it now, rather than to waste considerable time and resources only to come to the conclusion that it has proved rather inefficient lip-service to justice and economic revival."@en1
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