Activities of Elena BĂSESCU related to 2010/2105(INI)
Plenary speeches (1)
Innovative financing at a global and European level (debate)
Amendments (10)
Amendment 7 #
Motion for a resolution
Recital B
Recital B
B. whereas the spectacular rise in the volume of financial transactions in the global economy within the last decade – a volume which in 2007 reached a level 73.5 times higher than nominal world GDP, mainly owing to the boom on the derivatives market - is clearly illustrating thesuggests a growing disconnection between financial transactions and the needs of the real economy,
Amendment 25 #
Motion for a resolution
Recital H
Recital H
H. whereas this prompted the current debate on European economic governance, a key component of which should be measures to strengthen the coordination of taxation policies in order to safeguard tax justice and bring about a shift in the tax be inefficiency of the Stability and Growth Pact in its present form and the divergence in competitiveness between Member States prompted the curdren from labour towards activities with strong negative externalitiest debate on European economic governance,
Amendment 52 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Stresses that the main advantage of innovative financing tools, as compared to traditional ones, is their can bring double dividend, as they can at the same time contribute to the achievement of important policy goals, such as financial market stability, and offer significant revenue potential; stresses, in this context, that the effects of these tools on the negative externalities produced by the financial sector should also be taken into account;
Amendment 88 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Points out that some EU Member States have already introduced similar types of transaction taxes with no apparent negative impact, while other EU Member States have experienced strong negative impacts, including massive delocalization of financial activities, a phenomenon that could only be partially reversed after the tax was abolished;
Amendment 94 #
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8 a. Stresses that a European FTT should only be considered if the European Commission's impact assessment concludes that this is a viable option that does not cause a significant displacement of economic activity away from the European Union;
Amendment 124 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Stresses the importance of comprehensive rules on exemptions and thresholds in order to ensure that the main burden is not transferred toInsists on examining who will eventually be paying the tax, as taxes are usually burdened on the consumer, which in this case would be retail investors and individuals;
Amendment 131 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Notes the IMF proposal for a Financial Activities Tax (FAT), as endorsed in the recent Commission communication; stresses that an FAT is a solely revenue- oriented tax tool and therefore has no direct or indirect potential to restore mthat directly tarkget balance or to curb speculation in financial transactions; emphasises, moreover, that even if they are given the broadest possible scope FATs offer lower revenue potential than FTTs; believes, therefore, that an FAT can only be a complement to an FTTs the financial sector; notes that if well- designed, a FAT allows reaching two additional objectives of being a good proxy for value-added of the sector and to tax economic rents and excessive risk- taking; calls on the Commission to assess its potential;
Amendment 149 #
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20 a. Calls on the Commission to produce a feasibility assessment in order to establish in the long run a system under which Member States may participate in the issuance of common European bonds; calls for the inclusion in such an assessment of the strengths and weaknesses of all options, taking into account possible moral hazard implications for participating members;
Amendment 174 #
Motion for a resolution
Paragraph 26
Paragraph 26
26. Believes adequate tools need to be found to impose a CO2 tax on imported products and services in order to rWarns against the risk of initiating trade wars as a resulet out competitive disadvantages for the internal marketf the imposition of a border tax based on the CO2 content of imported goods;
Amendment 184 #
Motion for a resolution
Paragraph 27 b (new)
Paragraph 27 b (new)
27 b. Points out that a common European carbon tax would have highly dissimilar effects on individual Member States; warns, in this respect,against the uneven burdens that such a tax would create;