This historic turn of events seems to me then but sometimes worth a text. The following is the statement by the press officer of the FDP office:
Ladies and Gentlemen,
the German parliament today, the law has decided to take over warranties as part of a European stabilization mechanism. This is a special purpose vehicle be established that will ward off by granting loans of up to 440 billion euros a threat of insolvency of the Member States. To fund this purpose entity receives guarantees of the Euro member states. The maximum guarantee volume for Germany's share is 123 billion euros. This stabilization of the euro was necessary to prevent harm to the European currency. You can find following some arguments, especially to a possible financial market tax:
About the package agreed today to stabilize the euro also expected the FDP parliamentary group meaningful progress in the regulation of financial markets. The demands of the resolution of the German Parliament two weeks ago, must be negotiated at a European level, with emphasis. be the Stability and Growth Pact, which was softened in the past by red-green exacerbated the financial market is regulated and must be stronger. Indispensable participation of all those in the costs of the crisis, which have speculated at the expense of taxpayers and profits made. The relationship between risk and responsibility especially in financial transactions must be restored and visible. On the proposed bank tax addition, the cause of the crisis be involved in its management. The FDP therefore supports the introduction of a financial market tax. The
Fractions of FDP and Union now demanded this week that the federal government to work for a European / global financial market control to market actors more involved in the cost of the financial crisis. Come around for the Christian-liberal coalition, both a tax on financial transactions and a tax on fees and profits - as it brings the so-called financial activity control - into question.
The financial transaction tax is not very accurate and there are better tools to achieve the cost-sharing of the financial market players. A European / global agreement will not oppose the FDP, however. An examination of that at international level therefore acceptable. So far, the United States and Canada had always said not to support an initiative. However, should an international agreement, so can the financial transactions tax achieve a cost-sharing of the financial market players. An international tax on financial transactions would be no capital flight. The audit commissioned by the EU Commission has just as this international approach. A purely national implementation of the financial transaction tax rejects the FDP parliamentary party continues on. This would have an exodus of capital flows in unregulated financial centers and the result would be a mere symbolic politics without steering effect.
Targeted Cost sharing of the financial market players, according to the IMF more achievable with the financial activity tax. Just the result of financial activities that take high risks in purchasing to high profits and also to achieve high bonuses, should then be recorded even more from such a financial market taxation, as long-term investments, such as for retirement.
landmarks of a financial market contribution had to be to be contained by the introduction of harmful speculation that the ailing financial sector in Europe weakened any further, small savers do not overloaded and the measures and control mechanisms are globally defined, so that financial state actors Measures can not evade. These requirements, for example, by the Christian-liberal coalition had already decided, bank levy.
Brief explanation:
The financial transactions tax to each individual trading of almost all financial products - load - from equities to foreign exchange speculation papers. The financial control activity, such as the International Monetary Fund (IMF) had proposed in April, will be levied on the profits of financial companies, as well as payments to managers' bonuses.
Sincerely
Tommy servant
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