Progress on FTT

German chancellor Merkel has spoken out in public for an FTT in the framework of Enhanced Cooperation.

Also the German Liberal Party (FDP), which is in the government, has given up to insist on an FTT in the EU 27.

The agreement is part of a deal on a package with different domestic issues, which has been adopted between the Christian Democrats and the Liberals for the rest of the legislature period until the next elections in autumn 2013.

This gives now definitively green light to build a European coalition of the willing for the FTT.

For civil society in the countries in the coalition of the willing the question is now to look for the details and to prevent a watering down and to see that with respect to the use of the money development and environment are not left out.

Also, former UN secretary general Kofi Annan is in favour of an FTT for development. 'I believe a financial transactions tax could be used to help curb excessive speculation while raising money for development and climate change finance' he said.