1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
After Sarkoies visit Merkel in Berlin today Germany and France will call for a Bank levy plus a TT together on the next G20 meeting.
Well I'm sure they know a FTT isn't going to fly at the G20 level so why not propose two things so maybe one will stick (LOL). Although I thought the finance ministers recently stated that they were dropping a banking levy from the G20 agenda after Canada, Japan, and Brazil opposed? Sarkozy and Merkel are going to look like a couple of stooges at the G20
-Guru
Maybe its only political propaganda, so they can say hey folks look we tried eyerything .... but there is no way for a TT.
http://m.guardian.co.uk/?id=102202&...n/14/angela-merkel-germany-coalition-collapse
Merkel is on thin FTT-ice. Hope the Free Democrats can remain very relevant in the current or future coalition as they are anti-tax, including anti-FTT.
Austerity in Europe sounds impressive for trigger-lowering bond rating firms and bond short sellers. Austerity announcements may appease markets and they are hard to vote in with political rath to pay. And much harder or close to impossible to enact especially in strike-rich Europe. Is Merkel going to take the sword on austerity and was FTT-talk - it's never been more to date - revenue talk for pay go? She can't attack union jobs with austerity without making banks and traders pay more too - with talk of bank taxes and FTT. Otherwise, it sounds like she is giving banks and traders a pass. Remember, unions are calling for FTT and getting austerity instead.
The French are not crazy for austerity and also passed it on pressure from Merkel. If she goes away so may that deal. The French prefer German spending and are not the first to raise taxes on banks.
Europe is fractured and coalition power sharing governments are very unstable._
The German French good show of unity today is more fragile than it may seem. So is FTT._
Sent from my iPhone.
Merkel is on thin FTT-ice. Hope the Free Democrats can remain very relevant in the current or future coalition as they are anti-tax, including anti-FTT.
Austerity in Europe sounds impressive for trigger-lowering bond rating firms and bond short sellers. Austerity announcements may appease markets and they are hard to vote in with political rath to pay. And much harder or close to impossible to enact especially in strike-rich Europe. Is Merkel going to take the sword on austerity and was FTT-talk - it's never been more to date - revenue talk for pay go? She can't attack union jobs with austerity without making banks and traders pay more too - with talk of bank taxes and FTT. Otherwise, it sounds like she is giving banks and traders a pass. Remember, unions are calling for FTT and getting austerity instead.
The French are not crazy for austerity and also passed it on pressure from Merkel. If she goes away so may that deal. The French prefer German spending and are not the first to raise taxes on banks.
Europe is fractured and coalition power sharing governments are very unstable._
The German French good show of unity today is more fragile than it may seem. So is FTT._
Sent from my iPhone.
TAXING certain financial transactions would be "potentially better" than banning them outright, Central Bank governor Patrick Honohan told a Dublin conference yesterday.
His comments come as countries throughout Europe consider the implementation of financial transaction taxes as an alternative to banning problematic transactions like naked short-selling.
http://www.independent.ie/business/...tion-tax-better-than-ban-honohan-2220650.html
His comments come as countries throughout Europe consider the implementation of financial transaction taxes as an alternative to banning problematic transactions like naked short-selling.
http://www.independent.ie/business/...tion-tax-better-than-ban-honohan-2220650.html
More on the France Germany love fest:
Franco-German alliance on bank tax:
http://m.theglobeandmail.com/news/w...ce-on-bank-tax/article1603795/?service=mobile
"What is more significant for the Toronto summit is the forging of a stronger Franco-German alliance ahead of the talks. This started taking shape last week with word that France would back Germanyâs ban of naked short selling, an important diplomatic gain that ended Ms. Merkelâs isolation on the issue."
"Still, an alliance of continental Europeâs two biggest economies will test Canadaâs sway with other members of the G20. So far, Mr. Flahertyâs argument that a tax is an unfair punishment of countries that stayed out of trouble has been enough to muster a posse that includes countries such as Australia, Japan and Russia. But French and German support for a financial transactions tax changes the debate a little. In theory, it could be applied to the kinds of risky trades that the G20 is committed to stopping. In reality, it might not work, but would certainly raise considerable revenue. At a time when deficits are bulging and environmental and aid programs are going unfunded, a financial transactions tax could entice some governments -- especially if a couple of the worldâs biggest economies are doing it."
-Guru
Franco-German alliance on bank tax:
http://m.theglobeandmail.com/news/w...ce-on-bank-tax/article1603795/?service=mobile
"What is more significant for the Toronto summit is the forging of a stronger Franco-German alliance ahead of the talks. This started taking shape last week with word that France would back Germanyâs ban of naked short selling, an important diplomatic gain that ended Ms. Merkelâs isolation on the issue."
"Still, an alliance of continental Europeâs two biggest economies will test Canadaâs sway with other members of the G20. So far, Mr. Flahertyâs argument that a tax is an unfair punishment of countries that stayed out of trouble has been enough to muster a posse that includes countries such as Australia, Japan and Russia. But French and German support for a financial transactions tax changes the debate a little. In theory, it could be applied to the kinds of risky trades that the G20 is committed to stopping. In reality, it might not work, but would certainly raise considerable revenue. At a time when deficits are bulging and environmental and aid programs are going unfunded, a financial transactions tax could entice some governments -- especially if a couple of the worldâs biggest economies are doing it."
-Guru
http://news.ph.msn.com/business/article.aspx?cp-documentid=4156276
European leaders tackled the thorny question of how to tax the financial sector on Thursday, distilling ideas to put to next weekend's G20 summit in Canada.
However, a Franco-German push to have a broad-based tax on financial transactions agreed across the European Union was left off the menu during Brussels summit talks, with Britain also insisting that the fruits of a planned bank levy be left in national hands.
European leaders tackled the thorny question of how to tax the financial sector on Thursday, distilling ideas to put to next weekend's G20 summit in Canada.
However, a Franco-German push to have a broad-based tax on financial transactions agreed across the European Union was left off the menu during Brussels summit talks, with Britain also insisting that the fruits of a planned bank levy be left in national hands.