Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

France 24 meets George Weah ahead of inauguration

Read more

MEDIAWATCH

Gymnast's fierce courtroom address

Read more

THE DEBATE

A whole new world: Trump anniversary special

Read more

#TECH 24

Will artificial intelligence ever surpass the human brain?

Read more

FRANCE IN FOCUS

Aiding migrants in France: What are the legal implications?

Read more

FOCUS

The challenge of clearing Colombia of landmines

Read more

REVISITED

Video: Gambians reflect on first year of democracy

Read more

FASHION

Pitti Uomo in Florence, the world's largest men's fashion showcase

Read more

ENCORE!

Award-winning Filipino filmmaker Brillante Mendoza on keeping it real

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)