1/4% Tax on all stock trades pushed in NY Times today

an article from the same site similar to their last week's article:

http://www.monstersandcritics.com/n...l-transaction-tax-idea-rejected-by-EU-experts

Unilateral transaction tax idea rejected by EU experts

Oct 15, 2010, 17:48 GMT

Brussels - Prospects for the European Union to introduce a unilateral tax on financial transactions appeared even ever more remote Friday, as internal papers revealed that the bloc's experts have rejected such an idea....


...Its warning comes on top of similar concerns already voiced by the European Central Bank and by the European Commission. (and the IMF, and every sane country and individual)
 
More good news:

Barroso drops financial taxes from G20 wish-list

http://www.euractiv.com/en/euro-finance/barroso-drops-financial-taxes-g20-wish-list-news-498918

A draft European Commission wish-list for the November G20 summit in Seoul no longer puts financial taxes on the agenda, according to an internal note seen by EurActiv, which will be discussed today (19 October) by the College of Commissioners.

..Economic and financial issues dominate the document but no mention is made of financial taxes.

..."We think it is unrealistic to obtain backing at G20 level on this issue,"admitted an EU source close to the dossier.
 
Quote from Explorer:

More good news:

Barroso drops financial taxes from G20 wish-list

http://www.euractiv.com/en/euro-finance/barroso-drops-financial-taxes-g20-wish-list-news-498918

A draft European Commission wish-list for the November G20 summit in Seoul no longer puts financial taxes on the agenda,

..."We think it is unrealistic to obtain backing at G20 level on this issue,"admitted an EU source close to the dossier.
More...

If this is a manipulative tactic (their 'discussion paper' reads like a transparently self-interested global governance maneuvre), it will backfire.

http://www.businessweek.com/news/20...ny-still-wants-financial-transaction-tax.html

Headline as below touches on cracks in disparate G20:-

http://www.ft.com/cms/s/0/d4ed0eaa-...44feabdc0.html.
 
Glad the US doesn't have a hot money inflow problem like Brazil and doesn't need a FTT to slow down inflows.

It would be inappropriate and even illegal for a reserve currency like the dollar to have a toll-charge FTT on non-US parties wanting to use that public trust reserve currency.

If the euro covets reserve currency status too it must abandone any ideas for a FTT toll charge. Leave the toll charges for emerging markets if anyone. Prefer not there either.
 
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