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Financial Transaction Tax

Dear Ladies and Gentlemen,

In the past week, German Chancellor Angela Merkel and French President Nicolas Sarkozy have both expressed tepid support for the Financial Transaction Tax.

The tax, a 0.05% tax on certain financial transactions, is designed to increase the stability of financial markets by de-incentivizing over-speculation.

More importantly, the funds acquired from the tax would then be used to fund development projects around the world, and it is estimated that the almost negligibly marginal tax on financial transactions could raise billions of dollars for these much-needed initiatives.

Chancellor Merkel and President Sarkozy are to meet today in Berlin to discuss the proposed tax ahead of an EU summit at the end of this month.

The proposal is often regarded by critics as offering too simplistic a solution for too complex a problem – but is this really the case?


Please watch the trailer of the day:

The Girl in the Cafe'

- Richard Curtis’ 2005 film The Girl in the Café tells the tale of a lonely British civil servant who befriends a young woman in a café, eventually falling for her and bringing her along to the G8 summit in Iceland, where she unapologetically presses world leaders with regard to their lack of dedication regarding ending global poverty and suffering.

Suddenly Gina

- A 2007 German re-make of Richard Curtis’ The Girl in the Café’

Steuer Gegen Armut Short

- (German) A short clip which explains the idea behind the Steuer gegen Armut campaign

The Banker

- Short skit which explains the Financial Transaction Tax