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

http://www.theaustralian.com.au/nat...progress-on-debt/story-fn59niix-1226168064896


"... Mr Swan rejected a favoured policy response of German Chancellor Angela Merkel, who declared last week that countries such as the US, Britain and Australia should drop their opposition to the imposition of a new tax on financial services.

Such a tax has been proposed to raise funds to fight climate change, but Ms Merkel says it should now be used to generate resources to strengthen the financial system.

"It is not possible that those outside the eurozone who are asking Europe to act are at the same time refusing a financial transaction tax," Ms Merkel said last week.

Mr Swan said he had never been a fan of the idea and was even less enamoured of it now that Australia was about to adopt a carbon tax.

"We have just put an economy-wide price on carbon pollution so using a new financial transactions tax to fund climate-change action is irrelevant to us," he said.

"The Europeans are now talking about a financial transaction tax - not for climate change but to shore up their financial institutions and financial institutions don't need shoring up. I don't know why anyone else would think that they should engage in that if they don't have that problem."
 
Quote from jackpearson:

GERMAN FINANCE MINISTER SCHAEUBLE SAYS IF EUROPE IS ABLE TO IMPLEMENT FINANCIAL TRANSACTION TAX, U.S. WOULD SOON FOLLOW
More...

Where does this guy get his info from? Didn't he just say on Saturday that their was no chance of a global agreement on the ftt? Now he thinks the US is going to be bullied into a ftt if Europe leads the way.

First Merkel was talking smack about the US saying we need to jump on the ftt bandwagon now Schaeuble is saying we'll follow them? These idiots are really trying to piss everyone off. The US and the G20 should just kindly tell them to go to hell:)

-Guru
 
German Minister: Parochialism Stopping Financial Transactions Tax:

http://www.nasdaq.com/aspx/stock-ma...ochialism-stopping-financial-transactions-tax

LONDON -(Dow Jones)- Short-sighted parochialism is preventing the introduction of a financial transactions tax in Europe, German Finance Minister Wolfgang Schaeuble said Monday.

"If we go ahead [with a financial transactions tax] a lot of other parts of the world economy will follow us," he said at an event at the Chatham House institute of international affairs.

I would really like to know who he's referring to. Certainly the US isn't going to go along, lol...

-Guru
 
That's a big "IF." The UK, Sweden, the Netherlands, Malta, Ireland and the Czech Republic have all said they won't participate unless it's global. Schaeuble said after the last G-20 meeting that a global agreement wasn't going to be possible. His logic is beginning resemble an Escher painting.



Quote from jackpearson:

GERMAN FINANCE MINISTER SCHAEUBLE SAYS IF EUROPE IS ABLE TO IMPLEMENT FINANCIAL TRANSACTION TAX, U.S. WOULD SOON FOLLOW
More...
 
Mr Wolfgang you can not even think of never mind lead Europe to a consensus on sound economic measures that would prevent the world from literally falling apart as we know it yet you continue to promote the equivalent of an economic virus with just days left of your fancy deadline....
 
"Surprisingly, the communiqué issued at the Paris meeting makes no reference to the importance and urgency of a global FTT. Most likely, the issue of FTT would be deliberated at the G20 Mexico Summit in 2012. By purposely not mentioning it in the communiqué, the opponents (particularly Canada and US) have managed to influence other G20 nations to delay the discussions on the proposed tax for almost a year, thereby weakening the political momentum generated on this important issue in the past few years."

http://www.globalresearch.ca/index.php?context=va&aid=27115
 
Quote from FightTheFuture:

"Surprisingly, the communiqué issued at the Paris meeting makes no reference to the importance and urgency of a global FTT. Most likely, the issue of FTT would be deliberated at the G20 Mexico Summit in 2012. By purposely not mentioning it in the communiqué, the opponents (particularly Canada and US) have managed to influence other G20 nations to delay the discussions on the proposed tax for almost a year, thereby weakening the political momentum generated on this important issue in the past few years."

http://www.globalresearch.ca/index.php?context=va&aid=27115
More...

Very interesting that the above article makes it sound like a global ftt isn't even going to be discussed at the upcoming G20 meeting in France. The G20 Mexico Summit doesn't take place until June of 2012.

This little blurb from the Guardian also says it may be too early for a ftt (LOL):

http://www.guardian.co.uk/business/economics-blog/2011/oct/17/financial-transaction-tax


"When the good times come back, the argument for throwing some sand in the wheels of the money markets is a sound one. Diverting a proportion of the tax receipts to projects in the developing would also provide a strong moral justification."

"In the meantime, however, the FTT should be placed on the back burner. Politicians need to focus on one project at a time."

-Guru
 
OWS wants a 1% ftt:

After Igniting Wall St. Protests, Magazine Proposes One Clear Demand:

http://thelede.blogs.nytimes.com/20...-protests-magazine-proposes-one-clear-demand/

"On October 29, on the eve of the G20 Leaders Summit in France, let’s the people of the world rise up and demand that our G20 leaders immediately impose a 1% #ROBINHOOD tax on all financial transactions and currency trades. Let’s send them a clear message: We want you to slow down some of that $1.3-trillion easy money that’s sloshing around the global casino each day – enough cash to fund every social program and environmental initiative in the world."
 
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