European CSOs demand a tax on financial transactions

Nearly 7,000 civil society organizations and trade unions have signed a letter to their respective heads of state and government calling for redoubling efforts to implement a Financial Transaction Tax (FTT), also known as the 'Robin Hood tax'. The petition was submitted on the occasion of the European summit held in Rome to commemorate the 60th anniversary of the Treaty of Rome.

CSOs point out that such a tax on financial transactions would entail a minimum income of € 20 billion a year, and that revenue should be used to meet social needs such as financing global public goods such as health, education and the fight against poverty and climate change. In addition, this measure would restore the stability of markets, the prevention of future crises such as the one that shook Europe and the world in 2007-2008.

After having stopped several times in recent years, the European negotiations on FTT under the enhanced cooperation procedure are now very close to the target. Implementing the FTT does not only mean improving the efforts made so far and so much energy in a long process influenced by the resistance of the states. To approve the agreement today would provide tangible proof that Europe is capable of establishing an ambitious commitment on fair and progressive measures. This campaign has strong support backed by more than one million signatures collected in 2015 by trade unions and European civil society.

The Robin Hood Tax Campaigns are active in twelve european countries. The italian coalition has 59 organizations: ACLI, ActionAid Italia, Adiconsum, Adiconsum Basilicata, Altromercato, Amref, ARCI, ARCS, Associazione Comunità Papa Giovanni XXIII, ATTAC Italia, Associazione di Comunità, Azione Cattolica, Banca Popolare Etica, CGIL, CINI -Coordinamento Italiano Network Internazionali, CIPSI, CISA - Comitato Italiano per la Sovranità Alimentare, CISL, CISP, Cittadinanzattiva, Gruppo Cooperativo Goel, Cooperazione Internazionale Piamartina – SCAIP, COOPI, CVX Italia, Daquialà, Dokita, Economia Alternativa, Equociquà, Fa’ La Cosa Giusta, Fairwatch Italia, FIRST CISL, FIRST SOCIAL LIFE - Cisl, Flare, FOCSIV, FCRE- Fondazione Culturale Responsabilità Etica, GCAP - Coalizione Italiana Contro la Povertà, Le Rondini, Legambiente, Lega Missionaria Studenti, LeG - Libertà e Giustizia, Lunaria, Mani Tese, Mag4 Piemonte, Mag Verona, MASCI – Movimento Adulti Scout Cattolici Italiani, Medici con l’Africa - CUAMM, Microdanisma, OISG – Osservatorio Italiano sulla Salute Globale, Oxfam Italia, RE:Common, Reorient, RTM – Reggio Terzo Mondo, Save the Children, Sbilanciamoci!, Social Watch Italia, UIL, Un ponte per, Volontari Terzo Mondo – Magis, WWF Italia.

See more information at Italian Network, Sbilanciamoci.