By Ann Pettifor – Posted March 16th on Labour List
Together with the Prime Minister of Greece, Mr. George Papandreou, I am going to give evidence to the EU’s Special Committee on the Financial Crisis in Brussels this Thursday, March 18th.
So today’s leaked report from the EU, arguing that Labour’s plans for cuts to public spending [...]
The huge volume of opaque derivatives transactions was a major cause of the financial crisis. Derivatives markets have made commodity and other prices more volatile, and have created huge losses, destabilising economies. The regulatory measures that the EU and other powers are currently considering are inadequate. They should be replaced by bolder measures to regulate finance for the benefit of citizens in Europe and across the world.
Taking place on the eve of political deliberations on financial regulation in ECOFIN, this conference on the financial transaction tax brings together a wide range of progressive politicians and experts, from NGOs, trade unions, international institutions, European and national parliaments.
