News
In its October session the European Parliament adopted its report on the financial crisis. See § 73 for its demand for a Financial Transaction Tax - Read ...
Minimum income in the European Union
Today, 20 October 2010, the European Parliament voted a controversial text of leftwing MEP Ilda Figuereido on the introduction of the long promised minimum income in the EU.
For the draft outcome document of the MDG summit: see 'Documents'.
After the ECOFIN council of September 7: no decisions on the FTT yet. Read the analysis of Peter Wahl
International Support for the Robin Hood Tax on Banks. Read ...
Journal of Sustainable Development
Entirely on the UN MDG summit - read summary...
ENOFAD Stamp Out Poverty Update on Progress made in Taxes and Development (August 2010): Read ...
And a very disappointing G20 Declaration ... without any real commitments for taxing the financial sector.
Muskoka Initiative for maternal health and children in the third world
At the G8 meeting in Canada on June 25 the G8 decided to spend 7.3 billion $ (with other donors) on maternal health and children.
Statement of the G20 Finance Ministers of June 5 2010
'agreed the financial sector should make a fair and substantial contribution toward paying for any burden associated with government interventions ...' ???
European Social Democrats push for Citizens Initiative on Financial Transaction Tax
Why G20 should go the whole hog at June Summit
Ramesh Jaura explains the demands for the G20 June Summit - article published by 'Other News' and 'IDN-InDepth News Analysis'
Germany in favour of an FTT?
Peter Wahl explains the new position of the German government on the FTT
On the 15th of March the European Parliament has adopted a report on the impact of the crisis on developing countries. It also calls for a Financial Transaction Tax ... read
No decisions at G20?
Peter Wahl writes about a conference in Berlin preparing the Toronto G20 of June 2010.
Reverse Development
According to Global Financial Integrity, 854 billion $ were removed from Africa by Illicit Financial Flows from 1970 to 2008
Tax and Development at OECD meeting
Tax and its role in development were at the table at the recent Global Forum on Development end of January (OECD)
IMF admits more mistakes
After re-thinking its macro-economic policy making, the IMF now turns to capital controls and changes its recommendations.
The IMF admits its mistakes
In a Staff Position Note the IMF proposes to 'rethink Macroeconomic policy'.
Haiti: Poverty in Harmony with Nature?
The earthquake in Haiti is a real disaster. Solidarity should be urgent and massive. At the same time, we should reflect on some of the concepts many progressives are using: 'living in harmony with nature' and 'humanitarian aid'.
European Council calls for an Financial Transaction Tax : 11-12-2009
“The European Council emphasises the importance of renewing the economic and social contract between financial institutions and the society they serve and of ensuring that the public benefits in good times and is protected from risk. The European Council encourages the IMF to consider the full range of options including insurance fees, resolution funds, contingent capital arrangements and a global financial transaction levy in its review.”
Holland stops ODA to Subsaharan Africa... ? 02-12-2009
This week the Dutch television announced that government decided to stop all Official Development Assistance to Subsaharan Africa. The reasons are not very clear yet but seem to be linked to the arguments used by Dambisa Moyo in her book 'Dead Aid'. Holland is known for its numerous 'private' initiatives, so it seems that a formal solidarity, however imperfect and inefficient it was, will be replaced by some kind of charity. Apparently, there is no discussion yet on a new form of formal solidarity in order to remedy the flawed official ODA. But maybe this was just fiction...???
Income inequality declining ...
According to a recent study, in 12 out of 17 Latin American countries the income inequality is declining. One of the major factors playing a role in this happy development, are the progressive government's transfers.
Corruption at the World Bank?
According to a book of Steve Berkman (The World Bank and the Gods of lending) 'embezzlement and theft of World Bank funds may be the rule rather than the exception' ...
A call to the G20 meeting in Pittsburgh
Global civil society asks the G20 meeting of September 2009 to introduce a financial transaction tax in order to put sand in the wheels of international speculation
A global Tobin Tax? Part 2...
On September 11th, the German SPD said it wanted to propose the idea of a global tax on financial markets. They want the idea to be discussed on the G20 meeting end of September. With a global tax of 0,05 %, Germany would be able to collect between 10 and 20 billion Euro. If the idea is rejected, the social-democratic party proposes to introduce a German tax on all transactions on the stock-exchange. In that way, only 2 to 3 billion Euro could be collected and major transactions - that caused the current crisis - would be exempted.
A global Tobin Tax?
Lord Turner, chairman of the Financial Services Authority in the City of London, suggests that a financial transaction tax might be a good idea to curb excessive pay, profit and activity in a 'swollen' financial sector. His idea was not well received and therefore, it might be as unsuccesful as former initiatives. However, according to the Financial Times, there is a genuine fear among regulators that the easing of the financial crisis can bring new difficulties. Tough measures still need to be implemented, and it certainly is a good idea to have this stated before the next G20 meeting in Pittsburg. Read more on in in the Financial Times of August 27th 2009.
Global Unions from the Asia Pacific Region Call for a Campaign to launch the International Solidarity Levy
According to the Global Unions, workers should not continue to pay for the failure of the international financial market. The real economy generates about US$ 36 trillion annually. But the virtual 'casino' economy generates about US$ 130 trillion. Imposing a small levy on these massive financial transfers would be a resource that governments can tap into to run development programmes. This could be an effective financial regulatory mechanism for organizing a democratic global governance of international financial markets. ITU is invited to join the campaign.
A deceiving G8 - G-13 - G13+1 - G16 ...
Broadly speaking, the different meetings of the G8 and other countries in L'Aquila (Italy) were rather deceiving. The G8 has lost its credibility and it becomes clear that global good governance becomes very urgent ...
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