Posted on 02/27/2013 12:40:19 PM PST by Olog-hai
The European Commission said revenue from a proposed financial transaction tax (FTT) should be set aside to fight poverty and climate change, as an investment against global instability.
“I would very much want member countries really to take it seriously,” European commissioner for development Andris Piebalgs told reporters in Brussels on Wednesday (27 February).
The FTT is backed by 11 member states and would put 0.1 percent levy on bonds and shares and 0.01 percent on derivative products. Estimated generated annual revenues could range between €30 billion to €35 billion ($39 billion–$46 billion) a year. …
(Excerpt) Read more at euobserver.com ...
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