PES regrets delaying tactics of Schäuble about the Financial Transaction Tax


Sergei Stanishev

The Party of European Socialists regrets the policy flip-flop of German Finance Minister Wolfgang Schäuble about the Financial Transaction Tax. PES President Sergei Stanishev supported the current path of a European Financial Transaction Tax through enhanced cooperation, as opposed to Schäuble’s ‘new’ idea of a Global Transaction Tax: “It is a shame that one of the leading countries of this project is now reversing course. It is totally inconsistent to strive for global unity around this matter, while complaining about an alleged lack of European unity. Let’s not put the cart before the horse”.

In 2009, the PES lead a campaign for an ambitious Financial Transaction Tax. The PES expects the EU to lead by example.

Sergei Stanishev said: “I expect the German government and all of the ten countries participating in this coalition of the willing to move forward with the implementation of the financial transaction tax and to do it full-hearted. People are expecting from us that we learn from the mistakes that led to the crisis”.