The 7th September ECOFIN meeting will see European ministers discussing the possible introduction of a Financial Transaction Tax (FTT) or a bank levy at EU level. After conservative attempts to drastically dilute an FTT, the PES will ask the ECOFIN ministers to come up with a ‘more balanced assessment of this tax’ – which could raise as much as 200 billion euros per year in Europe.
Having long campaigned for an FFT, the PES joins an action by a broad platform of NGOs to call for a fairer deal for people and a just taxation of financial professionals. The campaign action will take place in front of the building where the ECOFIN will meet, as the ministers arrive. Several tableaux will be staged with participants showing the negative effects of casino capitalism.
The NGO platform organizing this action comprises SOLIDAR, Trade Unions Confederation, OXFAM, WWF and European Public Health Alliance and aims for a concerted European action towards a fairer deal for the people and the planet. This includes the idea that the EU should lead the way. ECOFIN Ministers should make a serious assessment of the impact of the crisis on developing countries. New funds via a financial tax to fight climate change and implement the Millennium Development Goals should be promoted.
