The G20 has just held its annual meeting in Australia. The richest countries in the world met in Brisbane, including the French State, as the creator; the Spanish State, as a permanent guest. These meetings bring together the presidents of these states, the heads of central banks and finance ministers.
Eye-catching statements are made at these meetings, causing the stock exchanges to experience significant ups and downs for the benefit of speculators, who are prepared by the diners to make profits. In addition to these remarkable declarations, in Brisbane, 800 economic measures (!) They were proposals to boost the world economy and put them on the path of growth. I think too many measures. Better less and firmer will.
These measures will increase the global economy by 2.1% until 2018 and will be supervised by the International Monetary Fund and the Organisation for Economic Cooperation and Development (OECD), which will monitor this growth until 2018. If I am not mistaken, this rate of growth has been repeatedly adjusted, as last February it fell from 2% to 1.8% and it was clear that economic forecasts continue little in this discipline of so-called social science.
Among the measures for economic improvement, I would highlight two: 1) combating corruption and 2) levying taxes on multinationals in the country where they operate. The two are nothing big, but they are rather utopian.
Unfortunately, corruption is totally internalised between us and let us not say anything in the developing countries. To that must be added corruption in drug trafficking, arms trafficking and prostitution, because the most complete businesses are in these clandestine activities, while political leaders are looking elsewhere. In these large businesses, financial institutions also have a special role to play in money laundering.
On the other hand, the imposition of taxes on multinationals in the countries in which they operate is not going to be easy in the short term. We are aware of what the current head of the EU, Mr Jean-Claude Juncker, did to make the multinationals pay less tax. In other words, he offered the multinationals operating within the EU the tax haven of Luxembourg when he was president of that country’s government. Switzerland has decided this weekend to remain a tax haven for rich foreigners, according to Europa Press.
The multinationals operating in the Spanish state are taxing in Ireland for the fall in tax on profits. That is true, those entrepreneurs will then tell us what needs to be done to create new jobs, while they are continually cutting back. It will, however, be a gigantic undertaking if the multinationals are to be put at the service of the interests of society.
To this end, a General Infrastructure Area will be established. Through this entity, the aim is to improve trade, especially to increase trade. However, we already know what model of exchange the US and the EU want to impose on us on the occasion of the Atlantic Investment and Trade Agreement, or their twin for the Pacific. Competition will cause health, environmental and social protection to decline and the welfare state we have achieved for decades to deteriorate further.
We will have to be careful to give the appropriate response.
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