Speech of Commissioner Šemeta on Financial Transaction Tax in the EP Plenary Debate
"It is time for all FTT supporters to stand up and team up for progress. This means adapting to the reality of the situation today, and finding a way forward.
The broad based FTT is the one that the Commission – and many stakeholders and citizens – want. I still believe that it is the best option to achieve our legitimate objectives. But we must play with the cards we are dealt. If we want results, we must nurture what can be achieved, rather than relentlessly pursue what cannot.
The Commission has always been clear that it would not stand in the way of an agreement on the FTT, as long as the final compromise does not open the way for avoidance or distortions.
Agreement on a common FTT will be highly significant for the Single Market and for our taxpayers – even if the pace is more cautious that we would ideally like. However, to see real progress before the elections, the 11 Member States need to engage."
Speech available here : SPEECH/14/92