As world leaders head to France for the the G-20 economic summit in Cannes, labor leaders from around the globe will gather nearby to represent the needs of the world’s workers. Among their demands is a Robin Hood tax on banks and financial institutions that would exact a nano-percentage of each financial transaction to the tune of 0.5 percent. (See video.) That’s one half of 1 percent on every bond or derivative traded, stocks sold and a host of other “financial instruments” bought and sold by the very institutions bailed out by the world’s taxpayers.

Also known as a financial speculations tax, or a financial transactions tax, the idea is catching on in the United States through the activism of unions, especially the National Nurses United (NNU), which has been joining with Occupy protesters to support the Robin Hood tax. The idea has already gained significant momentum across the pond, where British activists are using creative means, such as this video, to sell the public on the Robin Hood tax.

Sharan Burrow, general secretary of the International Trade Union Confederation (ITUC), explains it this way:

Banks don’t come with an internal switch that says “Enough! Let’s slow down a little.” Or “Let’s just share this wealth around for the benefit of the community now.”…We need a new political contract. The G-20 leaders’ meeting…is a chance for leaders to set a new direction for their governments and to re-establish a fractured trust with their citizens.

AFL-CIO President Richard Trumka will join union leaders at the Labor Summit in Cannes to call for governments around the world to focus on creating jobs and to raise much-needed revenue from financial speculators via a Robin Hood tax. As the AFL-CIO has stated:

In the U.S., a tiny tax on financial transactions could raise hundreds of billions in revenue that could fund education and create jobs rebuilding our country, while discouraging speculation and encouraging long-term investment. Both Warren Buffett and Pete Peterson have urged Congress to consider a financial speculation tax.

Nurses in Cannes also will lead a press conference at the G-20 calling for governments worldwide to implement a Robin Hood tax.

While the global labor leaders and heads of state convene in France, working people and Occupy activists will gather with the AFL-CIO and members of the NNU at a rally in Washington, D.C., Nov. 3 to demand a Robin Hood tax that will make financial institutions pay their fair share to help put Americans back to work.

For more on the Robin Hood tax, click here.