President of the Socialist International
The decision taken on January 22 by 11 EU member states at the EU’s Economic and Financial Affairs Council (ECOFIN) to implement a tax on financial transactions is of major significance.
This is an important breakthrough after many years of concerted efforts by the Socialist International, the Party of European Socialists, PASOK, as well as the PASOK members of the European Parliament, and many other progressive forces around the world.
This is one of the few decisions taken by the EU during the current sovereign debt crisis that has a social character. The implementation of this measure will have a number of positive consequences for all the citizens of the EU, including:
• It specifically targets speculators, whose greed has had a catastrophic impact on our economies and citizens.
• It intervenes in the financial sector, which remains inadequately regulated and benefits from fragmented global governance.
• It creates an opportunity to redress some of the injustices that allowed the financial sector to profit from the crisis, although that crisis was of its own making.
• It will raise funds that will help to reduce the deficits of EU member states in a more socially just manner.
• It aims to restore the financial sector to its proper role, which is to finance and facilitate the real economy.
To a large extent, today’s decision satisfies the goal that I set and that all the member parties of the Socialist International pursued together: tighter regulation and oversight of financial transactions and tax havens.
I welcome today’s decision and I hope that it will quickly be ratified by the EU. I call on other economic powers, beyond Europe, to move forward with the necessary boldness and determination to adopt this initiative, so that it can be implemented globally. A global financial transaction tax will benefit all national economies and all peoples.
All democratic and progressive forces worldwide have a responsibility to continue our efforts, to defend the public interest, and to restore a sense of social justice.
| 19 APRIL 2015
| 26 APRIL 2015
Resolutions and Decisions of the XXIV Congress
Member Party Congresses
Report of the Secretary General
04 JUNE 2014
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17 February 2014
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17 February 2014
The agreement between the President of the Republic of Cyprus Nicos Anastasiades and the Turkish Cypriot leader Dervis Eroglu on a Joint Statement is opening the way for renewed negotiations and provides a solid basis for a constructive dialogue that can lead to a functional and viable resolution of the Cyprus problem as soon as possible. It also creates the conditions for ending, at last, the unacceptable status quo...
11 February 2014
The Socialist International has congratulated Sushil Koirala, the president of its member party the Nepali Congress (NCP), on his election on 10 February as new Prime Minister of the Federal Democratic Republic of Nepal. Sushil Koirala got the support of 405 of the 553 members of parliament that took part in the vote. The NCP will now have again, after its last time in office in 2006-2008 under the late G. P. Koirala, the opportunity to bring forward its social democratic agenda and to strengthen the institutional framework of Nepal...
07 FEBRUARY 2014
Ahead of the second round of Geneva II talks, and following the agreement on the removal of the country’s chemical weapons, our priority in Syria must now be to address the ongoing humanitarian crisis. According to available estimates, more than 130,000 people have been killed since March 2011. Millions more have been displaced as refugees. Securing a ceasefire would provide immediate relief for citizens caught in the fighting and enable humanitarian aid to reach those in need…