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.
Resolutions and Decisions of the XXIV Congress
Report of the Secretary General
| 15 DECEMBER 2013
| 20 DECEMBER 2013
17 JUNE 2013
Developments in Turkey during the last three weeks have been followed with increasing concern by the international community. The Turkish government, which should respond to the grievances of the citizens who are protesting and act in accordance with the norms and principles of a democracy, is failing to listen and to seek a way forward to avoid the current spiral of violence, of beatings, and the victims that the world continues to witness as a consequence...
07 May 2013
The Socialist International is deeply concerned by legislation passed by the Moldovan Parliament last week, which compromises the integrity and the character of fundamental democratic institutions of the Moldovan State. Indeed, the International has been following political life in Moldova closely over recent years with a keen interest in seeing Moldova joining Europe, developing a new legitimate institutional framework, and consolidating past gains borne from the will of the Moldovan citizens for a fair and democratic society...
15 April 2013
The Socialist International, which has member parties in Venezuela and whose activities also include the participation of other like-minded organisations in that country, has followed with great attention for several years now, the evolution of political life in Venezuela. Among the international observers officially accredited for the presidential elections carried out yesterday, 14 April, were those from the Socialist International...
Tax evasion & tax havens
15 April 2013
George Papandreou, President of the Socialist International
The Socialist International (SI) has repeatedly called for international regulation to prevent tax evasion, which is robbing our economies of trillions of dollars every year. The recent media investigation of this phenomenon comes as a resounding confirmation of our position. In 2008, the SI created a Commission on the Global Financial Crisis, which highlighted the lack of effective international regulation and implementation mechanisms to stem tax avoidance and tax evasion...
27 March 2013
On the occasion of the 128th Assembly of the Inter-Parliamentary Union (IPU) held in Quito, Ecuador, from 22 to 27 March 2013, the Socialist International organised its regular meeting of parliamentarians from the SI political family attending the IPU Assembly, on 24 March...
13 March 2013
To mark the 6th Anniversary of the party Un Nuevo Tiempo in Venezuela, and in their designated year for political education, the Secretary General of the Socialist International, Luis Ayala, delivered a talk on the history and ideological foundations of social democracy, and of the Socialist International as a political model, offering as well his best wishes to a Venezuela in transition...