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Haiti: The financial transactions tax could be used for helping poor countries (Photo: Colin Crowley)

Financial transactions tax: No surrogates, please

Since economist James Tobin launched the idea in 1972, we have never been closer to the implementation of a financial transaction tax (FTT). However, we risk getting a tax with its name, but only few of the characteristics which make it a tool for equity and sustainable development. Only the original can help to cure an ailing financial system, not a stripped down surrogate.

The FTT debate is rather technical and complex. Instead of one tax, we are actually talking about a variety of po...

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The views expressed in this opinion piece are the author’s, not those of EUobserver
Haiti: The financial transactions tax could be used for helping poor countries (Photo: Colin Crowley)

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