The ETUC welcomes the announcement made by Finance Ministers on going ahead with a Financial Transaction Tax.
ETUC Deputy General Secretary Veronica Nilsson said “The FTT is still on track after all this time, although many of the key details still need to be worked out.”
“The ETUC will continue to press for a strong FTT that could raise money for Europe to invest in the real economy. It would also reduce speculative financial activities that destabilise our economies. An FTT would bring a bit more social justice and limit the wilder excesses of our financial system.”
“We are not surprised at George Osborne’s threat to take legal action against the tax. The ETUC condemns his attempts to ring fence the City of London from EU regulation as part of the renegotiation of the UK terms of membership of the EU. ”
The FTT involves 10 EU countries: France, Germany, Spain, Italy, Belgium, Austria, Portugal, Greece, Slovakia and Slovenia, with another participating country, Estonia, withdrawing for the moment.
