Brussels, 13/09/2001 (Agence Europe) - In approving a draft Resolution on how to improve the workings of the International Monetary System, the European Parliament's Economic and Monetary Affairs Committee followed the recommendations of its rapporteur Robert Goebbels (PES, Luxembourg) in turning down the idea of a Tobin Tax on financial speculation and instead wanting emerging economies to be able to protect themselves by introducing effective supervisory legislation to accompany the domestic liberalisation of capital, indicated a press release. The report also favours a series of reforms, such as freezing the debt repayments of poor countries hit by an insolvency crisis and making the International Monetary Fund more democratic.