Letter to heads of state on the Financial Transactions Tax (FTT)

Financing the transition

Dear heads of state,

We, the undersigned, coalitions of civil society organisations and trade unions representing millions of European citizens campaigning for the Financial Transactions Tax (FTT), write to you on the anniversary of the Treaty of Rome as you meet to discuss the future of the European Union.

Today, the EU finds itself in multiple crises. Increasing inequality and the unmet expectations of citizens are being translated into a rise of national populism. Of all moments, this is the time to listen to the voices of the people. Recently, more than a million signatures testify to the popularity of taxing the finance industry more as a fair way for a sector that is a clear winner of globalisation to give back to those that have been left behind. As leader of one of the countries negotiating the FTT, we say to you we have had enough of delays, every day the FTT is not agreed costs jobs in the EU and lives abroad.

We urge you to redouble your efforts with fellow Enhanced Cooperation countries to complete negotiations at the earliest possible time, to:

  • Implement an ambitious FTT, which will raise at least €22 billion a year
  • Reach agreement of the final FTT legislation by Summer 2017
  • Allocate a significant proportion of forthcoming FTT revenue beyond protecting jobs and public services in Europe to help combat poverty, Pandemics and climate change in the wider world

Grand words are not enough, please deliver the FTT now.

Yours sincerely,

Letter sent to:

Chancellor Christian Kern, AUSTRIA
Prime Minister Charles Michel, BELGIUM
President Francois Hollande, FRANCE
Chancellor Angela Merkel, GERMANY
Prime Minister Alexis Tsipras, GREECE
Prime Minister Paolo Gentiloni, ITALY
Prime Minister António Costa, PORTUGAL
Prime Minister Robert Fico, SLOVAKIA
President of the Government Miro Cerar, SLOVENIA
Prime Minister Mariano Rajoy, SPAIN

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