Don't miss

Replay


LATEST SHOWS

THE INTERVIEW

Photographer Pete Souza shares his ‘portrait’ of Obama

Read more

EYE ON AFRICA

Zuma's ally Atul Gupta challenges asset freeze

Read more

MEDIAWATCH

Gun control continues to trend on US social media

Read more

THE DEBATE

Trump, Guns and School Shootings: Can Students Help Change Gun Control Laws?

Read more

THE DEBATE

Trump, Guns and School Shootings:: Can Students Help Change Gun Control Laws?

Read more

FOCUS

What's behind Germany's steep drop in juvenile crime?

Read more

ENCORE!

Music show: Duck Duck Grey Duck, Femi Kuti, Starchild & the New Romantic

Read more

TALKING EUROPE

Greek Cypriot negotiator: 'We stand a chance' of reunifying Cyprus

Read more

TALKING EUROPE

Towards a European army? The future of defence for the EU

Read more

France

Sarkozy calls for tax on financial transactions to fund global development

Text by News Wires

Latest update : 2010-09-20

President Nicolas Sarkozy called Monday for a tax on all financial transactions to pay for global development at a UN summit in New York that aims to bring new life to the foundering Millennium Goals, which seek to slash world poverty by 2015.

AFP - French President Nicolas Sarkozy on Monday called for a tax on all financial transactions at the UN Millennium Goals summit to pay for global development.
   
"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 told the summit.
   
The French leader said he would press for a global tax when France is president of the Group of 20 countries next year.
   
"I want to tell you of my conviction that while all developed countries are in deficit, we must find new sources of financing for the struggle against poverty, for education and for the ending of the planet's big pandemics."
   
Sarkozy, the first key leader to speak at the summit, also said that France would increase its payments to the UN fund on AIDS and malaria by 20 percent.
   
France has been a leading advocate of so-called "Innovative Financing" for development. It was the first country to introduce a tax on airline tickets to pay for aid.
   
While countries such as Japan, South Korea, Brazil, Norway and others support innovative financing. Free market countries such as the United States are known to be wary of imposing new taxes.
   

 

Date created : 2010-09-20

  • UNITED NATIONS

    Leaders meet to revive stalled UN millennium goals

    Read more

  • FOOD

    Global hunger declines but still 'unacceptable'

    Read more

COMMENT(S)