By S&D Euro MPs today welcomed EU finances ministers' green light to allow eleven EU countries* to launch a financial transactions tax (FTT).
Said S&D Group leader Hannes Swoboda: "Europe needs now to move swiftly on a promise made to its citizens.
"We urged the European Commission to present us with a proposal so that such taxation can be implemented before the end of the year.
"It is indeed about time that the financial institutions contribute to the repair of the crisis that they have triggered. It is a matter of social justice while so many citizens are still suffering the consequences of the crisis".
Said S&D Euro MP Anni Podimata who will draft the report for the European Parliament:
"We welcome the 11 leaders' decision to play a leading role in the establishment of FTT in Europe
"It will discourage the most speculative and risky transactions and bring the financial sector back to its original role, the financing of the real economy".
In addition, with the revenues generated, a financial transaction tax will contribute towards the reduction of member states' public deficits.
*The member states proceeding with the financial transaction tax are: Germany, France, Italy, Estonia, Spain, Greece, Slovakia, Belgium, Austria, Portugal and Slovenia.
S&D Press contact: Solange Hélin Villes
+ 32 2 283 21 47
+ 33 3 88 17 47 79
+ 32 476 51 01 72
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