1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
Quote from ScorpXdt:
I just find it hard to believe that all 17 Eurozone countries are going to sign up for this ftt. You may get all 17 to sign up for the treaty but I don't see how they treaty itself can contain an ftt. I mean it looks like there's 9 other yes votes for the treaty (EU countries) and not all 9 of those are in favor of the ftt. There is no way Sweden would sign this treaty if it had to agree to a ftt (IMHO).
I think you might get a coalition of the willing so to speak who might forge ahead with the ftt but even that remains to be seen. If we do get some kind of hodge podge of a European ftt let's hope the results are horrific and no one else wants anything to do with it.
We know that the UK isn't going to be signing up for the ftt
-Guru
-Guru
A feasible analysis:
---/blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100013758/europes-blithering-idiots-and-their-flim-flam-treaty/?utm_source=dlvr.it&utm_medium=twitter
Note the Merkozy body language. (Geithner's negative body language also clearly evident pictured earlier with Sarkozy).
The entire ugly show felt like a war-like political pincer manouvre designed to achieve control of the UK's financial system. Nothing to do with their debt crisis.
The woman is politically dangerous. Never underestimate how the rest of the world interprets her ambitious "lousy" language and power-hungry impression. Her minions' motives are increasingly transparent. France will likely be her next political target.
Now which masochistic government would even consider an ftt since UK's sector is "free, at last".
Thankyou.
---/blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100013758/europes-blithering-idiots-and-their-flim-flam-treaty/?utm_source=dlvr.it&utm_medium=twitter
Note the Merkozy body language. (Geithner's negative body language also clearly evident pictured earlier with Sarkozy).
The entire ugly show felt like a war-like political pincer manouvre designed to achieve control of the UK's financial system. Nothing to do with their debt crisis.
The woman is politically dangerous. Never underestimate how the rest of the world interprets her ambitious "lousy" language and power-hungry impression. Her minions' motives are increasingly transparent. France will likely be her next political target.
Now which masochistic government would even consider an ftt since UK's sector is "free, at last".
Thankyou.
This fate was sealed when the UK said no to joining the Franco-German-designed euro. When the eurozone ran into inevitable crisis, Germans refused to pay the bill, and they won't allow sufficient bailouts either. Rather, Germany grabbed more powers and tried to hit the UK with the bill, using FTT. The UK objected, there was no other choice.
EU members are riding the Franco-German horse, as they are desperate and its the only horse to ride. But, it's only a matter of time to Franco-German failure on financial policies, German-designed penalties and controls start to bite, and EU and eurozone members will want to switch horses, back to UK financial services. Or, voters will change horses inside France and Germany, and newly elected leaders will patch this up. That includes getting rid of FTT, probably before it's even effective in 2014.
Now we are witnessing a dust up, with cloudy details. Let the dust settle soon, and we will see where we stand. If Moody's and S&P drop another ratings bombshell on the eurozone, and things get worse, shouldn't France and Germany be to blame, as they are driving this thing and busy pushing out contributors like the UK?
EU members are riding the Franco-German horse, as they are desperate and its the only horse to ride. But, it's only a matter of time to Franco-German failure on financial policies, German-designed penalties and controls start to bite, and EU and eurozone members will want to switch horses, back to UK financial services. Or, voters will change horses inside France and Germany, and newly elected leaders will patch this up. That includes getting rid of FTT, probably before it's even effective in 2014.
Now we are witnessing a dust up, with cloudy details. Let the dust settle soon, and we will see where we stand. If Moody's and S&P drop another ratings bombshell on the eurozone, and things get worse, shouldn't France and Germany be to blame, as they are driving this thing and busy pushing out contributors like the UK?
let's not get carried away here. the only thing the euro-zone can do at this point is what germany and france are doing. the whole "uk the good guy, germany the bad guy"-rhetoric that some of you keep posting doesn't fly with me, and doesn't have a whole lot to do with the FTT either.
as a European I'm not against Europe, and the only way Europe can work if Brussels has the power to intervene when countries like Greece flush themselves down the drain, but all of this has nothing to with the FTT at all.
one thing that unites all of us in this thread is we don't want the FTT, so let's refrain from making this some sort of a Europe-debate.
as a European I'm not against Europe, and the only way Europe can work if Brussels has the power to intervene when countries like Greece flush themselves down the drain, but all of this has nothing to with the FTT at all.
one thing that unites all of us in this thread is we don't want the FTT, so let's refrain from making this some sort of a Europe-debate.
Fair enough, agree with you too.
But, I think the UK is being stigmatized by the general media as a trouble-maker and selfish. They are standing up for financial services and without financial services the EU and euro zone will be disenfranchised.
In my view, France and Germany have been the ones playing hardball and I hope they find a more fair and balanced approach.
I agree 100%, most of us like me want Europe to succeed. My wife is Finnish and I spend lots of time in Europe every summer. Many of my closet friends, family and clients are European too.
In the past few years, I have applauded German austerity measures over Keynesian-deficit spending ideas.
I support a constructive solution - without FTT.
But, I think the UK is being stigmatized by the general media as a trouble-maker and selfish. They are standing up for financial services and without financial services the EU and euro zone will be disenfranchised.
In my view, France and Germany have been the ones playing hardball and I hope they find a more fair and balanced approach.
I agree 100%, most of us like me want Europe to succeed. My wife is Finnish and I spend lots of time in Europe every summer. Many of my closet friends, family and clients are European too.
In the past few years, I have applauded German austerity measures over Keynesian-deficit spending ideas.
I support a constructive solution - without FTT.
I wrote this new blog last night, and Forbes just published it.
"How To Pay Back MF Global Customers 100%"
http://www.forbes.com/sites/greatspeculations/2011/12/09/how-to-pay-back-mf-global-customers-100/
I started a new ET thread on it, to see if we can advance these ideas with regulators. We need money protection on futures and forex accounts, as segregation of funds doesn't always work. Traders and hedge fund managers need their money back fast from MF Global too.
http://www.elitetrader.com/vb/showthread.php?threadid=232435
"How To Pay Back MF Global Customers 100%"
http://www.forbes.com/sites/greatspeculations/2011/12/09/how-to-pay-back-mf-global-customers-100/
I started a new ET thread on it, to see if we can advance these ideas with regulators. We need money protection on futures and forex accounts, as segregation of funds doesn't always work. Traders and hedge fund managers need their money back fast from MF Global too.
http://www.elitetrader.com/vb/showthread.php?threadid=232435
It has a lot to do with the FTT, I was speaking to a guy in Germany earlier, he is not a trader yet when asked about the crisis his response was " dam, merkel, all she cares about is the union".
No one here is against Europe, fact is Brussels created this crisis and even though when times were good France and Germany them selves did away with there own FTT, there now fully willing to force it on to others at any cost believing it will save there own skin.
Its not France and Germany as country's, its there leadership, who incidently were the first to break the rules concerning the single currency and were more than willing to negotiate with Malta when it came to the FTT yet gave Britain absolutely no room to work what so ever, leaving them with no choice but to veto...
What happened to the list of countries in Europe that were against the FTT? They all folded like a house of cards to Merkozy?