Sven Giegold

EU summit

EU can go it alone on financial transaction tax

Commenting on the conclusions of the EU summit of heads of state and government in Brussels today, German Green MEP Sven Giegold commented:

„We welcome that – for the first time – the European Council has shown its support for a financial transaction tax. The pledge is made a little too easily given that it is specifically made for a global tax, the best solution but one already rejected by the US Secretary of the Treasury.

The Greens/EFA Group calls on Europe to go it alone if necessary and pioneer the introduction of the financial transaction tax. Each time zone and each currency area can introduce such a tax autonomously. The evasion possibilities are within acceptable limits, given that the ECB has wide control possibilities when it comes to settlement of Euro transactions.“