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14 May 2012, New York/Madrid.
UN human rights experts join callsfor FTT as Global Week of Actiongets underway
 A group of United Nations independent human rights experts today joined thegrowing callsfor a globalfinancial transactions tax(FTT). “Where the world finan- cial crisis has brought about the loss of millions of jobs, socialized private debt bur-dens and now risks causing significant human rights regressions through wide-ranging austerity packages, a financial transaction tax is a pragmatic tool for pro-viding the means for governments to protect and fulfill the human rights of their people,” affirmed the UN Special Procedures onextreme poverty,food,business, foreign debtandinternational solidarity. Partly inspired by the global civil society coalition “Righting Finance Regulation”and through close engagement with CESR, the expert statement comes at a criti-cal moment, with European finance ministers due to meet in Brussels just as thelatest summit of the Group of 8 industrialized nations takes place in Camp David.The statement by leading figures in the human rights community is a powerfulboost to the global campaign for an FTT, making clear that the tax is a humanrights imperative, as well as a priority for the development agenda.May 15 also marks the beginning of aGlobal Week of Actionfor the FTT, duringwhich time civil society from all corners of the globe will stage coordinated publicityevents and lobbying efforts to build the momentum for the so-called “Robin HoodTax” throughout the G-20. As a first step, a coalition of EU countries led by Franceand Germany is taking the lead via a regional FTT, which is set to be determineddecisively at the summit of European heads of state, set to take place on June 28and 29.While there is still significant resistance to the FTT from the financial sector in Eu-rope and the US, the decision-makers meeting in both Brussels and the other in-ternational forums will be aware that social justice campaigners and UN human
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