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Euro MPs today called on the EU to promote a financial transaction tax at global level and to implement it across the EU as a first step.  The tax would produce significant new sources of finance as an alternative to harsh cutbacks in public spending.

 

The call came in a resolution drafted by Greek Socialist Anni Podimata which MEPs in Strasbourg backed by a cross-party majority of 529 to 127 with 18 abstentions.

 

Provisional version of the adopted text:

 

Innovative financing at a global and European level

Committee on Economic and Monetary Affairs

PE450.744

European Parliament resolution of 8 March 2011 on innovative financing at global and European level (2010/2105(INI))

 

The European Parliament,

“The Finance Ministers have failed to grasp the depths of the global jobs crisis, with world unemployment of at least 205 million and a whole generation of young people facing a lifetime of unemployment or underemployment. The G20 leaders need to send them back to the drawing board to come up with real initiatives to create jobs, and indicators on which success can be measured,” said ITUC General Secretary Sharan Burrow.

20th February is the Global Day of Social Justice. Read ... 

Read ...

Global Day of Action in support of the Financial Transactions Tax (FTT) on 17 February 2011, the eve of a meeting of G20 finance ministers in Paris.

 

 

Europe must take its responsibility to implement a Financial Transaction Tax

(2 February 2010, Brussels) The European Federation of Public Services Unions (EPSU) is highly disappointed by the decision taken by the European Parliament Economic and Financial Affairs Committee (ECON) yesterday, 1 February, rejecting the compromise amendment that the majority of political groups had agreed to start to implement a Financial Transaction Tax (FTT) in Europe.

 

Wealth Inequality is a serious challenge, says IMF's Min Zhu in Davos.

Read...

On January 26 the World Economic Forum will start in Davos, two weeks ahead of its 'social counterpart' which will take place in Dakar, Senegal from 6 to 11 February.

In Davos four major points will be discussed:

- the new reality

- the economic outlook and inclusive growth

- the G20 Agenda

- a risk response network

Read their website and follow their activities

In his press conference on January 24, President Sarkozy presented his programme for France's chairmanship of the G20 this year. He once again pleaded in favor of a financial transaction tax and said he wants to introduce a capital flows code. He also wants to curb the specualtion on food prices and commodities.

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