On the same subject
The future tax on financial transactions (FTT) will “the broadest possible base” : This announcement François Hollande, made Monday morning on France Inter, was received as a divine surprise by NGOs supported the FTT. They accused him far Paris curb European negotiations on the subject, including by refusing to tax all derivatives – highly speculative financial tools. “The statements of Francois Hollande are in full contradiction with those of his Minister of Economy , says Dominique Plihon economist member of the Attac organization. Let it ride us or the government’s position has changed, which would be good news. “
Project of the European Commission, promise Hollande, the FTT could become reality in eleven European countries, including France, having volunteered to implement. The proposal of the commission is to tax at 0.1% exchange of shares and 0.01% of those derivatives. What reporting a total of 34 billion euros per year. But the application of the FTT has been continuously postponed since 2012, technical negotiations dragged on between stakeholders. According to NGOs, France would have been particularly shy about the subject for fear of penalizing its powerful banking groups. While Germany showed lends itself to a more ambitious measure. “The financial sector is very heavy in France, while it is more dispersed in Germany explains Dominique Plihon. In addition, manufacturing is king in Germany and she is aware that the financialization of the economy is a negative factor for it. “
” dangerous fantasy “
In July 2013, Pierre Moscovici, Minister of Economy, had mentioned the “concerns about the industrial future of the Paris and in the financing of the French economy” . In November 2014, his successor Michel Sapin defended in the Voices a restrictive approach, but considered more realistic, the FTT: “Think we can rake in tens of billions of euros without financial transactions will migrate to heaven where the tax does not exist, today is a dangerous fantasy or a futile dream! “ A position criticized by NGOs support a FTT” muscular “. And by 140 deputies socialist signed on 18 December, a letter to Manuel Valls going in the same direction.
In this context, the statements of Francois Hollande well represent a real reversal of the French position – or rather a return to its original commitment: “Better take all financial products with low so that there is no market disruption “, has said the Head of State, who wishes that the FTT is put into effect in one country by 2016 or “at the latest” , 2017. As for the revenue from this tax, it could be “climate service, the fight against global warming,” .
“It seems very interesting, be informed Oxfam. And very unexpected at the same time: in our last appointment at Bercy, we were told that the French position “moderate” was the only viable. All this we will dig “ Distrust still Dominique Plihon. ” We will certainly use these statements This government has already forfeit too many occasions. What worries us more is that the new European Commission has put financial reforms on its agenda 2015. The situation remains unclear. “ Contact by release The Ministry of Finance has not responded to our questions
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