Treaty on Global Currency Transactions Tax

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Treaty on Global Currency Transactions Tax

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PREAMBLE

PREAMBLE

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THE HIGH CONTRACTING PARTIES ...

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RECALLING the far-reaching adverse effects of currency and other financial crises

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DESIRING to curb the excessive power of short-term transnational capital flows

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BEARING in mind the differences in national economic situations and the consequent need to have some autonomy in conducting economic policies, without undermining multilateral economic arrangements

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DESIRING to create revenues that can be used for developmental and other socio-economic purposes that must be determined globally

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DETERMINED therefore to implement a global currency transactions tax

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DETERMINED to tackle the emerging problems of tax evasion, including gaining relevant control over and regulating various off-shore tax havens

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RESOLVED to mark a new, more democratic stage in the process of developing multilateral systems of global economic governance

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CONFIRMING their attachment to the principles of democracy and the rule of law, which must be applied also to inter- and transnational relations

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HAVE DECIDED to establish a Currency Transaction Tax and to introduce a Currency Transaction Tax Organisation:

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HAVE DECIDED to conclude this Convention, and to this end have designated a their Plenipotentiaries:

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WHO: having exchanged their Full Powers, found in good and due form.

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HAVE AGREED AS FOLLOWS

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