Some of Europe’s biggest film stars came together to launch today a new short film Future News, directed by David Yates, which brings to light the enormous potential of a Robin Hood Tax.

Oxfam welcomed today’s vote by European Parliamentarians in support of a strong European Financial Transaction Tax (FTT) covering all instruments (shares, bonds and derivatives), as put forward by

Speaking at a press conference at the Rio+20 Summit, Barbara Stocking, Chief Executive, Oxfam GB said:

A Eurozone breakup could cost the world’s poorest countries $30 billion in lost trade and foreign investment, international agency Oxfam has warned ahead of the G20 leaders meeting in Mexico to discuss the state of the global economy.

Hundreds of thousands of poor people will go without life-saving medicines and many more children will miss out on school because of the first cuts in aid since 1997, Oxfam warned today.

What should have been a watershed G20 summit for shared global prosperity fell short of its potential – but some of the strongest ideas, especially the Robin Hood Tax, did overcome the opposition of some countries.

Oxfam spokesperson Luc Lampriere said:
 

Oxfam spokesperson Luc Lampriere said:

“Food, funds, inequality” issues will test G20 leaders’ ability to transform the global economy. The 2011 G20 Summit could be a watershed for global stability and prosperity if leaders rise above a narrow vision of self-interest and act decisively for the world’s poorest citizens.