Enhanced cooperation on the financial transactions tax: - extracts from the report Anni PODIMATA (S&D, EL)

Type: News   Reference: 89778   Duration: 00:03:00  Lieu: Strasbourg, France - European Parliament
End production: 11/12/2012   First transmission: 11/12/2012
A financial transaction tax could come one step closer towards becoming a reality in 11 EU member states if MEPs agree this week for them to go ahead with the tax that aims to ensure that traders also bear their fair share of the cost of the crisis. The Parliament backed an agreement on the tax in May, but the Council did not manage to find a consensus, so some countries have asked if they could move forward with it by themselves. The Parliament will need to give its consent before the Council can authorise the procedure. The debate on Tuesday 11 December and the vote on Wednesday 12 December is about assessing whether the legal conditions for enhanced cooperation have been met. The Commission will publish a revised proposal for the countries taking part later, which will then also have to be evaluated by the EP. The resolution drafted by Greek Social Democrat Anni Podimata urges the Commission to research the effect of the financial transaction tax on participating and non-participating countries and to draft its revised proposal accordingly.

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TIME DESCRIPTION DURATION
00:00:00 Title 00:00:05
00:00:05 Exterior shot of the EP, Strasbourg 00:00:05
00:00:10 SOUNDBITE (Greek) Anni PODIMATA (S&D, GR), Rapporteur, on the fact that this is the right time for introducing the FTT, as there are problems in the banking sector and this will probably bring more problems to the internal market and more job losses: "It is time to bring in an FTT, because the social side of the crisis has to be addressed and unless we grab this net now, things are going to get worse and worse". 00:00:47
00:00:57 SOUNDBITE (Greek) Anni PODIMATA (S&D, GR), Rapporteur: "It's not really a solution not to touch the 'golden boys' from 'The City' who have just benefitted from the crisis. The FTT is not something that these City slickers want and we got to try and make sure that we stay at the service of the real economy; it's only if we bring it in that help Europe to retain its position in the world". 00:00:48
00:01:45 SOUNDBITE (Greek) Loucas LOUCA, on behalf of the Cyprus Presidency: "11 member states have chosen to join enhanced cooperation at this stage and at least one more is considering doing so. The Commission has therefore tabled a proposal, a draft directive, for the Council decision to authorise enhanced cooperation". 00:00:19
00:02:04 SOUNDBITE (English) Algirdas SEMETA, Commissioner: "I'm convinced that going ahead with the FTT file trough enhanced cooperation is strongly grounded, legally justified within the Treaties framework and desirable in the current economic and social context. Furthermore, the enhanced cooperation will allow for a coordinated and open approach to financial sector taxation which could be expanded beyond the 11 member states that have formally requested it. I already see that some others are reflecting about joining this group in the future. This constitutes an important and tangible sign that our ultimate goal of a global FTT remains valid". 00:00:48
00:02:52 Cutaways (2 shots) 00:00:08
00:03:00 END 00:00:00
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