Treaty on Global Currency Transactions Tax

  1

Treaty on Global Currency Transactions Tax

  92

PART III THE GLOBAL FUND AND The Global Intervention Fund

  208

[Global Fund]

[Global Fund]

ARTICLE 17

  209

§1 To pursue the objectives of this Treaty, Contracting Parties establish the Global Fund under the management of the Council.

  210

§2 The funds of the Global Fund shall be used to finance the provision of global common goods as decided by the Democratic Assembly upon proposals of the Council.

  211

§3 The Global Fund shall accumulate part of the global revenues of the CTTO into a GLOBAL INTERVENTION FUND as decided by the Council to support exchange rates against speculative pressures. Intervention will be triggered automatically when the reserves of a Contracting State country reach a level as will be decided by the Council or if trading is otherwise stopped or if the currency depreciates in an accelerating rate to be decided by the Council.

  212

"Support unfettered Open Standards and Open Sources for the foundations of the Information Technology Infrastructure" RA