Oxfam reaction: IMF Managing Director endorsing moves towards a European FTT

11th Oct 2012

Responding to comments by Christine Lagarde, IMF Managing Director, endorsing moves towards a European Financial Transaction Tax, Oxfam spokesperson Sebastien Fourmy said:

"It is clear that political momentum behind the FTT is growing. We urge the IMF to use its influence to persuade Europe to fast-track the FTT and encourage more countries to sign up.

"To be a true Robin Hood Tax a significant chunk of revenue must be used to help poor people in Europe and around the world who have been hit by a crisis they did nothing to cause."


Notes to editor:

* Earlier this week the European Commission announced that 11 countries including the big 4 of Germany, France, Italy and Spain are backing a FTT in Europe.

* Lagarde was speaking at the Civil Society Organization townhall held during the IMF-World Bank annual meeting in Tokyo

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