Many networks of civil society organizations have pushed for years for the introduction of a financial transactions tax (FTT). Simply put, the FTT would be an extremely low tax – around 0.05 percent – on every transaction on financial instruments. This said, the financial transaction tax is an extraordinarily effective tool to counter speculation, with negligible effects for small savers and enormous advantages for the economic system and the society as a whole. At the same time, the financial markets are so huge that even such a small tax would generate tens of billion euro of revenue each year in Europe alone. campaign and the former spokesperson of the Italian campaign for a Financial Transaction Tax.