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.
Member Party Congresses
Lithuanian Social Democratic Party, LSDP
120th Anniversary Conference
30 April - 01 May 2016
World Refugee Day
Report of the Secretary General
Presidential and parlimentary
15 May 2016
05 June 2016
Presidential and parlimentary
11 August 2016
Resolutions and Decisions of the XXIV Congress
13 NOVEMBER 2015
The Socialist International warmly congratulates Aung San Suu Kyi and the National League for Democracy, NLD, on their historic victory following general elections held in Myanmar on 8 November. The results of these elections, in which close to 30 million people were eligible to vote, already show that with 80% of the contested seats now declared, the NLD have more than the two thirds needed to choose the President and put an end to more than 50 years of military rule. These elections, despite the role and influence of the military, has been seen as the first openly contested poll in Myanmar in twenty five years, when the NLD won by a large majority in national elections in 1990 but Aung San Suu Kyi was prevented from taking office by the military and spent several long periods under house arrest, which only ended in 2010....
12 OCTOBER 2015
The Socialist International strongly condemns the massive terrorist attack on a peaceful rally in Ankara that took place on Saturday 10 October, killing over a hundred people and injuring many more. We extend our deepest sympathy to the families of the victims and our strong solidarity with all the people in Turkey who stand against violence and who remain committed to the democratic path, the defence of their freedoms and the enjoyment of their rights. We equally stand alongside all those who embrace and defend the values we share...