PES President Sergei Stanishev stated that; “the resolution of the Parliament is a further step for both Italy and Europe. Millions of citizens are asking for a fair solution to the crisis; they want those responsible - the speculators - to pay for the damage they are causing. The Financial Transaction Tax is the answer. Thanks to the PD and the encouraging efforts by Pier Luigi Bersani, we are closer to make it a reality”. Mr. Stanishev also underlined that; “the social aspect of the resolution is particularly promising. Besides its use to reduce sovereign debt, part of the FTT revenue must be invested in a European Youth Unemployment Strategy. The PES has shown its commitment to make the “youth guarantee” a top priority for 2012, and the FTT is an element to fund it”.
The PES - FTT campaign promotes the implementation of a 0.05% tax levied on all financial product transactions that would discourage speculation and collect up to € 200 billion per year.
