more commissioner the yon of a tack on international financial transactions may not be new but it is extremely topical to day because the crisis in the global economy especial
Mr President, Commissioner, the debate on the imposition of a tax on international financial transactions may not be new, but it is extremely topical today, because the basic lesson from the crisis in the global economy, especially for the euro area, which has been subject to systematic attacks by speculators recently, is that the previous unaccountability of the financial markets and the lack of fundamental financial regulation and governance is having immediate and visible repercussions on the real economy, on the viability of public economies, and on social stability.
Mr Commissioner, the on of a tax on international financial transactions may not be new, but it is extremely topical today, because the crisis in the global economy, especially for the euro area, has subject systematic attacks by speculators recently, is the previous unaccountability of the markets and fundamental financial regulation governance having immediate visible on the real economy, on the viability of public economies, and social stability.