Parliament Agenda: Green’s priorities for the week of 12 March 2012
Jennifer Baker is joined by Helmut Weixler, Greens Group Spokesperson, to discuss the EU Agenda for this week in the latest issue of ‘previEUws’.
Parallel to the European Parliament’s Strasbourg Plenary Session of this week, the Ecofin Council – the Economics and Finance Ministers of the Member States – will meet to discuss the proposed Financial Transaction Tax (00:54). Spokesperson Helmut Weixler states that The Greens are strong advocates of the tax. Their argument is twofold; first of all the measure will provide the national governments with a new source of revenue in these times of EU-wide austerity. Second, the tax would make it more expensive for speculators to manipulate the market.
The Commission on the other hand, will launch its Green Paper on Shadow Banking (03:17). Which covers financial institutes that are not a bank by its definition, but do undertake banking activities such as giving out credit. Up till this moment such institutions, including hedge funds and money market funds, are unregulated and beyond the reach of existing monitoring systems.
Later this week, the Environmental Council is meeting to discuss the roadmap for a low-carbon economy by 2050 (05:05). The Greens welcome a new roadmap, since they feel that the current emission trading system does not work properly. Heixler advocates that the offer of emission rights available needs to be lowered and prizes accordingly should increase.