“Technical solutions not technical excuses” says Rasmussen

“Let’s not look for technical excuses as to why an FTT is not feasible but rather lets, together, find the practical path to match public expectations and deliver this valuable new revenue stream”. Today in the European Parliament, Party of European Socialists (PES) President, Poul Nyrup Rasmussen declared that the concept of a Financial Transaction Tax (FTT) was very much ‘alive and kicking’. Speaking to a seminar of experts, he stated that Europe should lead on the issue.

Didier Reynders, Belgian Finance Minister and acting chair of the EU Finance Ministers Council, attended the meeting.

Mr. Rasmussen called on the Belgian Finance Minister to prove his true support by convincing his conservative and liberal colleagues to deliver a European FTT.

Mr. Reynders will chair the upcoming EU Finance Ministers meeting on 19 October and is expected to table the FTT idea at the G20 meeting of finance ministers in Seoul on the 22nd.

“European citizens cannot be expected to shoulder the burden of austerity, while a potential 190 billion euro fund is ignored by EU policy-makers”, concluded Mr. Rasmussen.

For further information please contact Brian Synnott (PES Press) on +32 474 98 96 75 (brian.synnott@pes.org)