UN experts call for global financial tax to offset costs of economic crisis – 14 May 2012

Experts of the
United Nations called the European Union to take the lead in promoting the
adoptation of a global financial tax to offset the costs of the current
economic crisis. As they see it, the actions taken so far to overcome the
crisis, including varying austerity programmes, risk causing significant human rights
regressions. A financial transaction tax is an alternative which does not entail these same risks.

They called
attention to the fact that a similar tax exists in South
Korea and suggest that such a tax may shift the burden from the citizens to the private sector.
According to them “EU countries must take bold leadership now to pave the way
towards what should eventually be a global FTT,” They welcomed recent EU
proposals to implement the financial transaction tax across the Eurozone.