In a speech pronounced at the Italian Senate on the results of the last European Summit (8th and 9th of December, 2011), the Italian Prime Minister, Mario Monti, spoke out in favour of the introduction of a tax on financial transactions:

“Italy is willing to reconsider its position, whereas Italy, and its former government in particular (…) were opposed to the idea of a tax on financial transactions, a Tobin tax, as opposed to France and Germany. (…) We’ve mentioned that Italy is willing (…) to join those who, at least at the European level, defend this tax. (…) Taxing the financial sector could generate resources to allow lower tax rates for families and companies” (press release) (AFP)

Italy is an active member of the Leading group, as demonstrates the introduction of two innovative mechanisms: the International Finance Facility for Immunization (IFFIm) and the Advanced Market Commitments (AMC).

This new development is a step forward towards the outcome of the discussions that will take place at the next plenary session of the Leading Group under the authority of the Spanish Presidency.