Sarkozy proposes global financial tax to fund the MDGs
- Category: News Archive 2010
22 September 2010
In an address to the UN General Assembly at the High-Level Summit on the Millennium Development Goals, French President Nikolas Sarkozy proposed a global tax on financial transactions as an innovative source of funding to end extreme poverty and suffering.
Sarkozy said the major powers could not hide behind the international financial crisis to avoid past commitments. "We have no right to shelter behind the economic crisis as supposed grounds for doing less," he said.
"Finance has globalized, so why should we not ask finance to participate in stabilizing the world by taking a tax on each financial transaction," Sarkozy said. He vowed to press for a global tax when France is head of the G20 and G8 next year, but said why wait, "we can decide right here".
For more see the AFP article by Philippe Alfroy: http://news.yahoo.com/s/afp/20100920/ts_afp/unsummithealthsocial