WIREDGOV

Anni Podimata (S&D, EL), the MEP spearheading Parliament's position on establishing a financial transaction tax, yesterday made the following statement about the intention of 11 countries to press ahead with the FTT.

"I welcome the decision of 11 Member States to introduce a Financial Transaction Tax under enhanced cooperation on the basis of the Commission proposal of September 2011. It is a socially fair tax, an indispensible part of a complete and coherent solution to exit the crisis.

This is a reward for Parliament, which has been calling for an FTT for over two years.  It will contribute to shifting the burden from the citizens to the financial industry - which has not yet contributed its fair share to the cost of the crisis. It will target the most speculative activities and at the same time provide finances equal to more than half of the EU's annual budget at a time of intense fiscal consolidation.

We will continue pushing to bring on board the greatest possible number of Member States."

Note: Currently 11 countries have signalled their intent to press ahead with an FTT.  Nine are needed for enhanced cooperation to be used.  The countries are Germany, France, Belgium, Austria, Slovenia, Portugal, Greece, Italy, Spain, Estonia and Slovakia.