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

So Germany comes out yesterday and basically throws in the towel on the ftt and today the EC comes out with this propaganda (LOL).

It is interesting that the article mentions that the 2014-2020 budget has to be agreed upon by December. I'm still of firm belief that there is no way this ftt is going to happen in the EU (not EU or EZ). My guess is they replace the ftt portion of the 2014 - 2020 buget with either a FAT tax or a tax on banks' liabilities.

-Guru
 
Here's a little snippet from Politico regarding the latest on the World Bank Presidency:

WORLD BANK WATCH: TYSON? - Lot of chatter last night about Laura D. Tyson, former senior economic advisor to President Clinton and now a professor at Berkeley, emerging as a leading candidate for the upcoming World Bank opening. Former Treasury Secretary Larry Summers had been viewed as the top contender and remains on the list with UN Ambassador Susan Rice and Pepsi Co CEO Indra Nooyi. Close watchers said it be harder for the E.U. and developing world nations to rally against Tyson than it might be against Summers. The U.S. typically picks the World Bank chief but there is some pressure now to name a non-U.S. candidate. FT reports that Ngozi Okonjo-Iweala, the Nigerian finance minister, and José Antonio Ocampo, the former finance minister of Colombia, will be nominated before Friday's deadline.
 
Quote from seasideheights:

Sachs not chosen.




Obama To Nominate Jim Yong Kim For World Bank Post
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What the guy from North Korea (LOL)... Just joking. Anyway good news it's not Sachs...
 
German Finance Minister Wolfgang Schaeuble said Friday he would seek alternatives to a cross-border tax on the finance industry that has run into fierce resistance in Europe.

Speaking to public broadcaster SWR in an interview to be transmitted on Saturday, Schaeuble appeared to back down on a French-led initiative for a financial transactions tax (FTT), acknowledging it would be nigh on impossible to push through at a European level.

"Instead, I will now back equal alternatives, such as extended stock market tax and one which has the broadest possible backing," Schaeuble said. [...]

http://www.expatica.com/de/news/ger...ives-to-financial-transaction-tax_217035.html
 
Quote from Explorer:

German Finance Minister Wolfgang Schaeuble said Friday he would seek alternatives to a cross-border tax on the finance industry that has run into fierce resistance in Europe.

Speaking to public broadcaster SWR in an interview to be transmitted on Saturday, Schaeuble appeared to back down on a French-led initiative for a financial transactions tax (FTT), acknowledging it would be nigh on impossible to push through at a European level.

"Instead, I will now back equal alternatives, such as extended stock market tax and one which has the broadest possible backing," Schaeuble said. [...]

http://www.expatica.com/de/news/ger...ives-to-financial-transaction-tax_217035.html
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What exactly is an extended stock market tax? This can't be the stamp tax as Schaulble ruled that out a couple of days ago. Is he talking a tax on the banks?

-Guru
 
Quote from listedguru:

What exactly is an extended stock market tax? This can't be the stamp tax as Schaulble ruled that out a couple of days ago. Is he talking a tax on the banks?

-Guru
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It doesn't seem to fit with his earlier rejection of a stamp duty. According to this article, Germany is now working on a scaled down FTT.
http://www.banklupe.de/news/schaeub...fraktion-hochfrequenzhandel-regulieren-37667/
I read in another German piece (which I've lost unfortunately) that Schaeuble disliked stamp duty only on the grounds that it stood little more chance of passing than a full-blown FTT.

We could use more clarity.
 
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