Vote on the report implementing enhanced cooperation in the area of a FTT

(18 June 2013) Ahead of the vote in the European Parliament Economic and Monetary Affairs Committee (ECON) on the report implementing enhanced cooperation in the area of a Financial Transaction Tax (FTT) on 18 June, {{the coalition of the Europeans for Financial Reform }} , of which EPSU is a member, sent a letter to the Members of the Committee. The coalition asks the MEPs to vote in favour of an ambitious, simple and efficient FTT, as a first but essential step towards an international FTT. This concerns particularly the following points : -* The FTT is perfectly legal, and respects both the letter and the spirit of European law -* The FTT must benefit from the largest possible scope. It has to cover also derivatives, the « repo » market, « market making » activities, intra-group transactions, the OTC market, pension funds and government bonds -* In order to prevent tax dodging strategies, the FTT must rely on a combined application of the issuance, ownership and residency principles -* The FTT has to rely on the transfer of property, in order to avoid settlement of transactions that have not been subject to the payment of an FTT - for the full letter: