Two members of the European Commission, the one for Development, Piebalgs, and the one for Trade, De Gucht, have worked together to make this new communication in which they want to make clear that development is absolutely necessary to achieve development. But who wants trade most?

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This study shows that a Financial Transaction Tax in Europe can have a positive impact on growth and jobs.

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Crime, corruption and tax evasion cost the Mexican economy US$872 billion between 1970 and 2010 according to a new report from Global Financial Integrity (GFI), a Washington, DC-based research and advocacy organization. The illicit financial outflows, which averaged a massive 5.2% of GDP, grew significantly over the 41-year period studied from just US$1 billion in 1970 to US$68.5 billion in 2010.

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In an article published on February 1, in the German newspaper Süddeutsche Zeitung, EU Commissioner Algirdas Semetas defends the Financial Transaction Tax with precisely the arguments used by the European Finance and Development Network. Worth reading!

Peter Wahl

Thanks for the translation made by Peter Wahl and Markus Gaudus

"Little by little the financial transaction tax approaches its implementation. There is increasing consensus on many aspects of the Commission’s proposal, and with regard to the remaining controversies there are constructive contributions being made.  Simultaneously a massive wave in support for the FTT has emerged among citizens. For them, the benefits of this tax are clear: An equitable distribution of the tax burden, a more stable financial sector and considerable additional revenues.

According to the 2012 of the ILO report on Global Employment Trends (GET), the world faces the “urgent challenge” of creating 600 million productive jobs over the next decade in order to generate sustainable growth and maintain social cohesion. The GET report offers the latest global and regional information and projections on several indicators of the labour market, including unemployment, youth employment and working poverty.

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The challenge to world leaders at Davos is to restore faith in the financial system by implementing a manifesto for economic justice

World leaders' inability to articulate a narrative beyond a long, hard march out of economic malaise ultimately caused by politicians' and regulators' failure to adequately supervise the financial system is resulting in widespread disillusionment with mainstream politics that threatens to undermine faith in democracy. World leaders need to respond quickly, and the finance community must play its role.

In a small ski resort in the Swiss Alps, thousands of corporate and political elites gather at the exclusive World Economic Forum during an unprecedented crisis of legitimacy. Its founding President, Klaus Schwab has admitted that capitalism "is out of whack" and needs fixing. Schwab argues that the economic crises we face are due to excesses and "lack of inclusiveness."

To mark the occasion, the Transnational Institute has produced a series of powerful infographics to expose the reality of corporate power and its immense social and environmental costs. They show that the problems are systemic and a result of the hijack of political and economic policy by a small corporate elite. The Davos Class cannot possibly find a solution, because their entrenched power is the reason for the crises.

To look at urgently: www.tni.org

People put themselves in motion. Occupy Wall Street spreads the United States. Protests and indigenous mobilizations produce a great ferment in the Andean region usually stormy. An unusual level of activity of mass movements affects even countries known for their social stability. On October 15 we had almost a thousand demonstrations in cities of 82 countries.