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IMA's Saunders warns Osborne on European 'Tobin tax' IMA chief executive Richard Saunders has written to chancellor George Osborne urging him to fight European Commission plans for a financial transactions tax. Mr Saunders said there is a "dark secret" about the EC's so-called 'Tobin tax'...

Semeta defends EU FTT proposal: (Translation needed from German) http://www.faz.net/artikel/C30770/eu-steuerkommissar-semeta-wir-arbeiten-mit-extrem-niedrigen-steuersaetzen-30457165.html

A tax on financial transactions must be global to work or else it risks being sidelined, Finance Minister Jacek Rostowski of Poland, which now holds the European Union's rotating presidency, said in Brussels late on Monday. http://af.reuters.com/article/energyOilNews/idAFLDE76404220110705

Italy drops financial transactions tax proposal The Italian government has dropped a proposal to introduce a 0.15-percent tax on financial transactions as part of a sweeping austerity plan adopted on Thursday, a government source told AFP...

Italy Passes $68 Billion in Budget Cuts [...]The final draft may have dropped a financial transaction tax of 0.15 percent that the Italian stock exchange called “profoundly worrisome,” and limited the planned increase in tax on trading profit, Il Sole 24 Ore reported today. A final copy...

[...]The proposed (Italian) tax on financial transactions could be scrapped and the 35 percent tax on bank trading replaced by a 7 percent surcharge, Il Sole 24 Ore said without quoting sources[...] http://af.reuters.com/article/energyOilNews/idAFLDE75T1UD20110701

EU Wide Tax Idea Rebuffed By German Minister BERLIN -(Dow Jones)- German Deputy Foreign Minister Werner Hoyer has rejected a financial transaction tax that would directly go to the European Union as proposed Wednesday by European Commission President Jose Manuel Barroso. "It would be a...

That shouldn't matter. His successor isn't a fan of the FTT either. [...]He (Mario Draghi) also repeated Trichet's line that common eurobonds and an EU finance ministry may be possible in the future but that eurozone economies are as yet not sufficiently integrated, adding that a financial...

Trichet urges EU to drop Tobin tax plan Jean-Claude Trichet on Thursday urged European Union policymakers to ditch plans for a financial transaction tax, warning that the bloc’s financial centres would lose out unless the scheme was adopted globally. The president of the European Central...

EU commission budget proposal faces barrage of criticism http://www.monstersandcritics.com/news/europe/news/article_1648558.php/EU-commission-budget-proposal-faces-barrage-of-criticism

It could be an FAT proposed after all... [...]A proposal will be made by the Commission to scrap the current own-resource decision, dating from 2007. Two or three new own resources will be put on the table. According to a draft seen by Europolitics, a financial sector tax, either a financial...

(AGI) Rome - A tax amounting to 0.15% on financial transactions, is one of the updates of budget law. This provision "is determined by applying 1.5 thousandth of the value of transactions." This tax, reports the draft bill, should be applied on "financial transactions carried out on Italian...

Germany is also strongly opposed to direct EU taxation, even if Merkel and Schaeuble would like an FTT for their own German budget.

0.1% to 0.5% is so completely absurd I wonder if the EC is deliberately setting a level ridiculously high just in order to lay a trap for the UK and other skeptics likely to veto it. If the UK were to criticise the proposed rates, it risks getting sucked into arguments about how big the tax...

This pro-FTT website - http://tinyurl.com/6je2jrd - has a map claiming to indicate which european countries are for, against, or undecided about an FTT in Europe. Pro-FTT countries Germany, France, Spain, Austria, Belgium, Luxembourg, Slovenia, Slovakia, Romania, Finland, Cyprus, and Greece...

[...] In other remarks, Merkel said there is currently no majority in the European Union for the introduction of a financial transaction tax. "But I will continue to lobby for it," she said [...] http://imarketnews.com/node/32580 This is mostly good news. It's good that that there's...

Yes, and another reason why this is unlikely to pass relates to the nature of EU funding. Until now the EU budget has been funded from contributions from each member government. With this proposal, for the first time the European Commission is attempting to tax Europe's citizens and...

EU to push for global transaction tax at G20 summit. BRUSSELS, June 20 (Reuters) - The European Union will continue to push for a global financial transaction tax at the G20 leaders' meeting in Cannes in November, European Commission President Jose Manuel Barroso said on Monday. "In line...

SPD coalition rejects plan for financial transactions tax (Article is in German) http://www.dowjones.de/site/2011/06/koalition-weist-spd-plan-f%C3%BCr-finanztransaktionssteuer-zur%C3%BCck.html

France Votes 'Yes' To EU Tobin Tax (and German Parliament says no) http://www.tax-news.com/news/France_Votes_Yes_To__EU_Tobin_Tax____49911.html