The head of the biggest trade union in Europe says a one-off levy on the richest people in Europe could yield over €120 billion. Reiner Hoffmann is the head of Germany's DGB with 40 million members.

He says Europe needs a new major one-off stimulus to revive the Eurozone.

At a conference in Dublin, he called for a plan similar to the 'Marshall Plan', which was used to kick-start European economies after World War II.

He is calling for a financial transaction tax across the entire EU, which would hit the pockets of those who caused the financial crisis.

The Irish Congress of Trade Unions (ICTU) hosted the event, called "A New Course for Better Times".

Other keynote speakers included the Minister for Social Protection Joan Burton, Aengus O'Snodaigh of Sinn Fein, the Danish Ambassador to Ireland Niels Pultz and Labour Party MEP Emer Costello.

The conference was held at the Mansion House in Dublin.