• SOURCE: S&D Group at European Parliament

MEPs secure final vote on the Tobin Tax in the European Parliament



Shoot Date

26 Jun 2013

Shoot Location

Brussels, Belgium

Production Company

S&D Group at the European Parliament

Edited Package
1. VOXPOP SAYING (DUTCH SPEECH): "It seems evident to me that a tax is for once implemented. For once that banks pay also for the crisis. They have been looking for it so now they can also pay. " 2. VOXPOP SAYING (FRENCH SPEECH): "No, as for me no because I think we already have so many taxes." 3. VOXPOP SAYING (FRENCH SPEECH): "Yes yes, it is a good idea , it is a good idea." 4. VOXPOP SAYING (FRENCH SPEECH: "That could help Europe too to have such kind of incomes." 5. VOXPOP SAYING (FRENCH SPEECH): "If we impose like that this kind of transactions then let's stop right now and let's come back to a past system where each economy of each country is independent." 6. VOXPOP SAYING (DUTCH SPEECH): "I think very right that the financial transaction have also to be taxed, as it is also on the benefit for work now. It is then right" FRANCE, STRASBOURG (July 3rd, 2013) (SOCIALISTS AND DEMOCRATS - ACCESS ALL) 1. CUTAWAY: VARIOUS OF STRASBOURG PLENARY SESSION INTERIOR 2. CUTAWAY: VOTE RESULT 3. Anni Podimata (S&D MEP, GK) SAYING (ENGLISH SPEECH): "This message is that we endorse the basics philosophy which is broad based FTT Financial Transaction Taxes covering all financial products, all financial markets and all financial institutions" 4. CUTAWAY: VARIOUS Anni Podimata TALKING WITH JOURNALIST 5. Anni Podimata (S&D MEP, GK) SAYING (ENGLISH SPEECH): "It is a question of social justice, social fairness that the financial sector which is to a great extend responsible for the current crisis, assume his fair part, contribute in a fair way to the cost of the crisis. Now the revenues is a tool, it is a incentive of discouragement regarding the most speculative armful transactions." 6. CUTAWAY: VARIOUS ANNI PODIMATA 7. Anni Podimata (S&D MEP, GK) SAYING (ENGLISH SPEECH): "We strongly encourage the members states which are going to proceed to the implementation of this tax on a first stage to use the revenues from this tax in order to fight against the unemployment, create jobs, finances, investments that have the possibility to create new jobs in a sustainable way. " BELGIUM, BRUSSELS (June 27, 2013) (SOCIALISTS AND DEMOCRATS - ACCESS ALL) 8. CUTAWAY: VARIOUS ERIC DE KEULENEER WORKING 9. Eric De Keuleneer (former Member of the Belgian Surveillance Board of the Financial and Insurance Commission and Economics Professor at Solvay Business School) SAYING (ENGLISH SPEECH): "Banks do not pay or pay very little to cover the systemic risk wich some of their activities are generating so to consider a financial transaction tax as a normal counterpart for the systemic risk which banks are creating " 10. CUTAWAY: VARIOUS ERIC DE KEUMELEER Story The Socialists and the democrats today won a big victory after securing a wide majority - 522 in favour, 141 against - in the European parliament for the introduction of a financial transaction tax in 11 EU member states*. The European parliament is calling for a 0.1% tax on stocks and bond trades and a 0.01% on derivatives from January 2014. Said Greek socialist and negotiator for the European Parliament Anni Podimata: "Today is a good day for the European citizens; contrary to many predictions, the "Tobin tax" is now on track. "For 3.5 years, the European Parliament has kept a consistent and coherent stance on the FTT. It is an attitude that shows in practice that above all we consider the common European interest and the interest of European citizens who bear the huge economic and social costs of the crisis. "I hope the same consistent and coherent attitude will also be kept by the 11 Member States committed to move forward with the implementation of the FTT. "We recommend to protect and safeguard the general scope of the tax to cover all financial products, all financial institutions and all markets, organized or not. "The wide scope of the tax - which covers all short of products, such as stocks, bonds and derivatives on regulated exchanges and OTC - coupled with low tax rates is the key element for the successful implementation of the tax; thus to avoid creating incentives for substitution, unequal treatment between markets, products and institutions and to reduce drastically the risk of tax avoidance". *The member states proceeding with the financial transaction tax through an enhanced co-operation are: Germany, France, Italy, Estonia, Spain, Greece, Slovakia, Belgium, Austria, Portugal and Slovenia.
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