The group, made up of NGOs, political organisations and trade unions, called on EU Ministers to recognise the merits of an FTT, particularly as austerity measures begin to be felt throughout the EU.
The coalition was concerned about the European Commission ‘non-paper’ tabled for discussion by Tax Commissioner Algirdas Šemeta which questions the feasibility of an FTT without giving detailed reasons. This is in direct contrast to a leaked paper by the International Monetary Fund and leading economists which states that this sort of tax is possible.
The action was staged to demonstrate to ministers what is at stake. Activists, including staff from the Stop AIDS Alliance (a joint initiative of STOP AIDS NOW! and the Alliance), dressed as greedy bankers who were pitted against representatives of the developing world, workers in Europe and the environment.
Some 200 billion Euros could be raised from an EU-wide transaction tax, according to the Austrian Institute of Economic Research. Campaigners believe that part of this money should support public services at home, fight overseas poverty and fight climate change.
More photos available here.
Read more about the campaign for a financial transaction tax (Robin Hood Tax).