Brussels, 24/06/2011 (Agence Europe) - At a debate in plenary at the European Parliament on Wednesday 22 June, President Barroso said that the Commission would present a formal proposal “after the summer” to bring in a financial transaction tax (FTT) within the European Union. It will pursue three objectives: - avoid the fragmentation of the single market for financial services which would be brought about by the uncoordinated introduction of national measures in this field; - bring in “appropriate” measures to discourage excessively risky or purely speculative transactions; - ensure that financial institutions make a fair and substantial contribution towards the costs caused by the crisis and respond to concerns of excessive profits. “The enormous bonuses paid to bankers suggest that excessive profits have been made in the banking sector”, he said.
It is worth noting that in EP/Eurobarometer survey carried out by TNS Opinion between 13 April and 2 May 2011, speaking to 26,825 European citizens, revealed that 61% of Europeans support the principle of financial transaction taxes, 26% are against them and 13% have no opinion. Those in favour are similarly favourable to the idea of a tax of this kind at international level or, if this is not possible, at EU level initially. (F.G./transl.fl)