Seminar: Hvordan kan globale økonomiske transaktioner styrke international økonomi?

Time: Tuesday, 18 January at 13.00 – 16.00 hours

Venue: Danish Institute for International Studies, Main Auditorium, ground floor, Strandgade 71, Christianshavn, 1401 Kbn K

Background

“Finance has been globalized. Why shouldn’t we demand that finance contribute to stabilizing the world through a minuscule tax on each financial transaction?”- Nicolas Sarkozy

Time: Tuesday, 18 January at 13.00 – 16.00 hours

Venue: Danish Institute for International Studies, Main Auditorium, ground floor, Strandgade 71, Christianshavn, 1401 Kbn K

Background

“Finance has been globalized. Why shouldn’t we demand that finance contribute to stabilizing the world through a minuscule tax on each financial transaction?”- Nicolas Sarkozy

In 1936, in the context of the Great Depression, John Maynard Keynes proposed implementing a small transaction tax which would serve to dampen excessive risk taking by speculators and thus decrease market volatility.

Today, in the aftermath of the financial crisis, the idea of a Financial Transaction Tax (FTT) has been revived as one possible way to hinder future crisis.

A FTT is a tax on specific bank transactions, rather than a tax on banks profits or wages. Theoretically, such a tax would lesson speculative financial transfers by increasing its costs. Even a small FTT could raise significant revenues.

Estimates suggest that a globally implemented tax of 0.05 pct. could raise 700 billion US dollars per year, which is approximately six times total international aid.

There has been much international debate in the wake of the global financial crisis about the technical viability and political desirability of an FTT. France, the country presiding over the G20 in 2011, will likely propose the creation of an FTT, arguing that it will protect tax payers from bearing the burden of bank failures. While the UK and Germany have expressed support, other major powers (including the US) remain reluctant.

A key issue in further deliberations on the FTT will be the question of how one might go about implementing an FTT globally, technically as well as politically.

We have asked two leading international experts – Stephan Schulmeister and Max Lawson – to present their analysis of these crucial issues.

This special Global Economy Seminar is arranged in collaboration with IBIS, Concord Danmark and 92-Gruppen.

SPEAKERS
* Stephan Schulmeister, Economist, WIFO, Austria
* Max Lawson, Senior Policy Advisor, Oxfam, UK
* Lars Koch, Senior Policy Advisor, IBIS

PROGRAMME
13.00-13.10
Introduction by Jakob Vestergaard, Senior Researcher, DIIS

13.10-14.15
A Tax on Financial Transactions – the Different Models, the Consequences and the Implementation – Stephan Schulmeister, Economist, WIFO, Austria

14.15-14.30
Coffee Break

14.30-15.15
Why a “Global Solidarity Tax” is Necessary to Meet Millennium Development Goals and Climate Adaptation – Max Lawson, Senior Policy Advisor, Oxfam, UK

15.15-15.50
Questions and Debate

15.50-16.00
Closing Remarks – Lars Koch, Senior Policy Advisor, IBIS

Chair: Jakob Vestergaard, Senior Researcher, DIIS

The seminar will be held in English.

Participation is free of charge, but registration is required. Please use the online registration form on http://www.diis.dk/sw102949.asp

And do so no later than Monday 17 January 2010 at 12.00 noon.

Please await confirmation by e-mail from DIIS for participation.

Danish Institute for International Studies (DIIS), The Conference Section, Strandgade 56, 1401 Kbn K, tlf. 32 69 87 51 og e-mail: [email protected] – web: www.diis.dk

Concord Danmark er en paraplyorganisation, der arbejder for fattigdomsbekæmpelse på EU-niveau.
Læs mere på: http://www.concorddanmark.dk/

92-gruppen er et netværk af danske NGO’er, som samarbejder for en Bæredygtig Udvikling.
Læs mere på: http://www.92grp.dk/cms/index.php?option=com_content&view=frontpage&Itemid=1