Hillman – Tobin Tax Network coordinator (+ new 10 minute film)
Sitkin – former Currency Trader, now lecturer in business studies The
present concept of the Tobin Tax proposes the taxing of foreign exchange
to prevent currency crises with revenues going to International Development.
It is named after the late Nobel Laureate James Tobin.
In Britain, the Tobin Tax Network launched a year ago by War on Want www.tobintax.org.uk
is now a coalition of over 50 charities, campaign agencies, faith groups and
trade unions representing millions of UK citizens. Renewed interest in the Tobin
tax over the last few years started after the South-East Asian currency crises
of the late 1990ies and have been combined with a growing clamour for innovative
sources of financing international development to meet the UN Millennium Goals
to halve world poverty by 2015.
Alan Sitkin has a unique perspective on the
considerable dangers of unregulated foreign exchange trading. A former currency
trader, now lecturer at the European Business School, his experiences of Black
Wednesday are important testament to the true goings-on of this market.