Twitterstorm for Global Financial Transaction Tax

The main progressive group in the European Parliament in Brussels today launched a Twitterstorm for a global financial transaction tax and called on the public to tweet G-20 host, Canadian Prime Minister Stephen Harper.

Progressive forces have been advocating the creation of a global financial transaction tax for decades. The debate among finance ministers in London in the run-up to the G-20 meeting has shown a basic agreement for sharing the burdens of the financial crisis in a fair manner.

"Now it is time to live up to that promise," said S&D spokesman on economic and monetary affairs, Udo Bullmann.

"Greedy speculators are responsible for the collapse of the financial markets. In response to the crises, governments around the world have stabilised their economies with taxpayers’ money. Now the speculators should pick up the bill. A global financial transaction tax of only 0.05% could yield revenue of about 1% of world GDP per year. Let us remind the world leaders meeting in Toronto for the G-20 Summit this weekend, that we want the financial global transaction tax."

The public is called upon to tweet Canadian Prime Minister Harper, the host of the G-20 meeting taking place in Toronto, from Tuesday, June 22, to Saturday, June 26.

They are urged to call for the introduction of a global financial transaction tax by sending Mr. Harper the twitter message: “Join the Twitterstorm! Tweet G-20 host Canada @pmharper : we want a Global Financial Transaction Tax NOW! #FTT http://tinyurl.com/34ncpzv “.