欧州の11ヶ国で金融取引税、tasa Tobin の執行
Europa activa el impuesto ‘Robin Hood’ para frenar los ataques especulativos
Bruselas da vía libre a 11 países de la UE, incluido España, para usar la tasa Tobin
Luis Doncel Bruselas 26 ENE 2013 - 23:45 CET
Active Europe tax 'Robin Hood' to curb speculative attacks
Brussels gives green light to 11 EU countries, including Spain, to use the Tobin
Luis Doncel Brussels 26 ENE 2013 - 23:45 CET
"The government will defend an initiative of the EU to regulate the flow of hot money." The year was 2001. No one even knew that a crisis was about to shake the euro zone. It was then French Prime Minister, Lionel Jospin, moves left half of Europe to establish itself as a champion of a tax which seemed radical leftist idea with interventionist whims and contrary to the free market.
A decade later, 11 countries accounting for two thirds of the GDP of the EU have agreed to move forward with firm steps towards the adoption of the Tobin tax. It is a tax on financial transactions with two objectives: to raise enough resources to those responsible for this crisis compensate the damage caused to the public purse and, second, to discourage practices that contribute little to the economy real and which have left many countries in dire straits.
After overcoming the resistance of governments like Britain and Poland, the finance ministers of the EU this week gave approval to a measure that, according to calculations by the German Institute for Economic Research, a think-tank based in Berlin could raise 37,000 million euros a year in the 11 countries that have decided to adopt it (Spain, Germany, France, Italy, Portugal, Belgium, Austria, Greece, Estonia, Slovenia, and Slovakia). Other analysts believe these figures an exaggeration.
The idea is that this mechanism comes into force at the latest by the end of 2014
After the Economic and Financial Council of the EU will promote the Tobin through enhanced cooperation, a mechanism designed to advance decisions in which there is no consensus in the Twenty-now that the European Commission will present its proposal for that is approved by the Member States. Brussels in 2011 and quantified the tax percentages -0.1% for the purchase of shares and bonds and 0.01% for derivatives, but the governments are the ones who now have the last word. This tax does not apply to small investors.
"The agreement is quite imperfect and comes too late, but it is a great triumph of social movements. Until recently we were called to those defending these ideas utopian, naive, and ignorant. Unfortunately not ignore us completely. The tax should be more widespread and deeper, "said Juan Lopez, Professor of Applied Economics at the University of Seville and member of Attac, the association has spent years fighting for the adoption of the Tobin tax disincentives for their speculative operations.
Brussels hopes that the political momentum this week is enough that the tax is in effect this year or next, but some observers wary at such short deadlines.
"It should be a more general tax," says Professor Torres, the asociaciónAttac
"I have the impression that long before we see a final proposal and, indeed, to witness the launch," says the professor of the University of Barcelona Antón Costas, favorable to tax revenue collection goals, but skeptical about their ability to reduce financial instability.
The calendar is not the only question that has arisen around the application of this rate, which took the name of the economist James Tobin, who, incidentally, before he died accused the anti-globalization movement have misunderstood his ideas to claim a lien to fight poverty.
What effect will a punishment for financial transactions is available only in a part of the EU? And where is earmarked funds raised? Will they go directly to Brussels, as requested by the Commission, or to fill the holes in national budgets, as member states want?
Will have to wait for answers. Meanwhile, the paradox is that many of the politicians who must answer these questions criticized this new tax, before the financial crisis colocal recent years. This is the case of Laurent Fabius, current French foreign minister and head of Finance when Jospin launched its plea for the Tobin tax. Then contradicted his boss by arguing that destabilize markets would be very difficult to implement and it does not hurt speculators.
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