6 Amendments of Bart STAES related to 2011/0261(CNS)
Amendment 4 #
Proposal for a directive
Recital 1
Recital 1
(1) The recent financial crisis has led to debates at all levels about a possible additional tax on the financial sector and in particular a financial transactions tax (FTT). This debate stems from the desire to ensure the financial sector contribute to covering the costs of the crisis and that it is taxed in a fair way vis-à-vis other sectors for the future; to curb speculation, in particular on commodity markets, thus limiting food price volatility and its impacts on food security; to dis-incentivise excessively risky activities by financial institutions; to complement regulatory measures aimed at avoiding future crises and to generate additional revenue for general budgets or specific policy purposes such as the financing of public goods and Union development policies especially towards the achievement of MDGs.
Amendment 7 #
Proposal for a directive
Recital 1 a (new)
Recital 1 a (new)
(1a) The revenue of the FTT, the objective of which is a more social and fair redistribution of wealth, should be additional to the national development aid commitments of 0,7% of GNI and allocated towards the financing of public goods such as Union development policies, poverty reduction and the fight against climate change in developing countries. These targets should remain an essential part of this new revenue.
Amendment 12 #
Proposal for a directive
Recital 18 a (new)
Recital 18 a (new)
(18a) In case no agreement amongst the EU 27 is found by September 2012, Member States willing to implement the FTT should advance by formally requesting enhanced cooperation under TFEU article 329. The EP should give its consent speedily, under the condition that the Member States in question commit to invoking TFEU article 333 paragraph 2 to adopt a decision stipulating that they will act under the ordinary legislative procedure.
Amendment 13 #
Proposal for a directive
Article 1 – paragraph 2
Article 1 – paragraph 2
2. This Directive shall apply to all financial transactions, including spot currency transactions, on condition that at least one party to the transaction is established in a Member State and that a financial institution established in the territory of a Member State is party to the transaction, acting either for its own account or for the account of another person, or is acting in the name of a party to the transaction.
Amendment 14 #
Proposal for a directive
Article 12 – paragraph 1 a (new)
Article 12 – paragraph 1 a (new)
Enhanced Cooperation In case no agreement amongst the EU 27 is found by September 2012, Member States willing to implement the FTT shall advance by formally requesting enhanced cooperation under TFEU article 329. The EP shall give its consent speedily, under the condition that the Member States in question commit to invoking TFEU article 333 paragraph 2 to adopt a decision stipulating that they will act under the ordinary legislative procedure.
Amendment 17 #
Proposal for a directive
Article 17 a (new)
Article 17 a (new)
Article 17a Use of revenue as own resource for EU budget Part of the revenue arising from the FTT in the Union should be used as own resources for the EU Budget, of which a significant percentage should be invested in financing Union development cooperation policies and the fight against climate change in developing countries.