UN experts call for global financial tax to offset costs of economic crisis
UNITED NATIONS, May 14 (APP): A group of U.N. experts Monday called on the European Union (EU) to take the lead in promoting the adoption of a global financial transaction tax that would offset the costs of the current economic crisis and protect basic human rights. “Where the world financial crisis has brought about the loss of millions of jobs, socialized private debt burdens and now risks causing significant human rights regressions through wide-ranging austerity packages, a financial transaction tax (FTT) is a pragmatic tool for providing the means for governments to protect and fulfil the human rights of their people,” the Special Rapporteur on extreme poverty and human rights, Magdalena Sepulveda, said.