EPSU welcomes political will to launch a Financial Transactions Tax in Europe

(Press communication, 11 October 2012) At the 9 October ECOFIN Council, 11 governments agreed to launch a Financial Transactions Tax (FTT). This is two more countries than required to kick off the enhanced cooperation procedure that allows groups of countries to move forward without the agreement of all 27 members. The 11 pro-FTT Eurozone countries are {{France, Italy, Spain, Germany, Austria, Belgium, Estonia, Greece, Portugal, Slovakia and Slovenia}}. The European Federation of Public Service Unions welcomes the long overdue step towards a FTT in Europe. It is a strong encouragement for all EU member states to not lag behind. As a bill for a FTT has been submitted to the US Congress, it marks a significant step towards an international FTT. {{Carola Fischbach-Pyttel}}, EPSU General Secretary says: “{The first transnational FTT in Europe may well become reality by the end of the year. No doubt, we will need to continue campaigning for a well-designed tax that will restore some sanity in financial markets and bring much needed cash for social justice. But this is the first piece of good news coming from the European Council since the start of the financial crisis, and is a success for FTT and tax justice campaigners}.” EPSU campaigns for a FTT in the framework of the Europeans For Financial Reform and together with Public Services International for a Global FTT. For more information contact: [Pablo Sanchez@epsu.org->psanchez@epsu.org] 00 32 474 62 66 33 [To read the ECOFIN Council 9 October press release->http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/ecofin/132771.pdf]