Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-23-Speech-3-297-500"
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"en.20120523.15.3-297-500"2
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"In order to be truly effective, a financial transaction tax ought to be applied globally, since otherwise it would be possible to get round it fairly easily and it would in any case be likely to create problems for the European financial sector; we certainly do not need any such problems at the moment. The main danger would be a reduction in the liquidity of the markets, which is already low, with access to credit thus made harder. Credit is necessary for the survival and development of our enterprises, particularly small and medium-sized ones.
On the other hand, if this tax is applied properly, it could be an instrument to raise funds without always hitting the usual suspects, namely, those who already have to bear a very heavy tax burden, and who have been overwhelmed by a crisis for which others are certainly responsible. Some of those responsible are certainly the people who used finance ruthlessly, for purely speculative ends. Therefore, although in general, I support the objectives of this proposal, I still have various concerns about the method of application, and it is for that reason that I decided to abstain from the final vote on this report."@en1
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