1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
There still talking in terms of citizens in the 27-nation bloc knowing full well there far from an agreement with that - so they basically think they can force non conforming EU members and other country's for that matter to do there tax collecting for them - leaving the interbank currency traders in peace whilst wiping out every European retail currency trader who happens to be in the wrong country.
No comment.
No comment.
One of my wife's sisters is married to a Dutchman. Several years ago when we discussed the formation of the EU and adoption of the Euro he was generally in favor of it. However, he did express his concern that the larger countries could try to bully the smaller countries. I remember him saying that the Dutch people would never stand for that... I hope he's right.
Quote from benwm:
I'm sure the Dutch won't take kindly to the Germans pressuring them. Too much history there...
I like the Dutch.Very independent people...
EU-27 Bulgaria opposes FTT.
http://www.bloomberg.com/news/2011-...-introduction-of-new-taxes-across-the-eu.html
http://www.bloomberg.com/news/2011-...-introduction-of-new-taxes-across-the-eu.html
So if the above is true it seems the European Commission proposal differs from the Sarkozy - Merkel proposal. The EC proposal seems to exclude currencies from the ftt whereas Sarkozy and Merkel and pushing for an ftt on currencies as well as derivatives and stocks and bonds.
Also I believe the EC wants to use the funds for their own coffers whereas Sarkozy wants to use the funds to help the poor (development, etc).
Anyway it's a proposal thats still DOA IMHO. I mean the poorest country in the EU Bulgaria just came out against it (LOL)...
-Guru
BRUSSELS (Dow Jones)--An upcoming proposal from the European Commission to tax financial transactions will cover a broad range of securities, including stocks, bonds, derivatives and structured products, a commission spokesman said Wednesday.
"We intend to propose a transactions tax with a wide base," said David Boublil, spokesman for EU tax policy commissioner Algirdas Semeta.
Currency derivatives will be included, Boublil said, but the commission is still debating whether to propose a tax on spot currency trades.
The commission, the EU's executive arm, is pushing ahead with the proposal despite sharp divisions among European national governments, which must approve the proposal along with the European Parliament before it can become law. Germany and France support it, but the U.K., Sweden and others are opposed, fearing it could push securities trading to financial centers outside the EU.
The commission aims to publish its proposal in the next two weeks, Boublil said. The tax, if passed, would likely take effect starting in 2014, he added.
http://online.wsj.com/article/BT-CO-20110921-711156.html
"We intend to propose a transactions tax with a wide base," said David Boublil, spokesman for EU tax policy commissioner Algirdas Semeta.
Currency derivatives will be included, Boublil said, but the commission is still debating whether to propose a tax on spot currency trades.
The commission, the EU's executive arm, is pushing ahead with the proposal despite sharp divisions among European national governments, which must approve the proposal along with the European Parliament before it can become law. Germany and France support it, but the U.K., Sweden and others are opposed, fearing it could push securities trading to financial centers outside the EU.
The commission aims to publish its proposal in the next two weeks, Boublil said. The tax, if passed, would likely take effect starting in 2014, he added.
http://online.wsj.com/article/BT-CO-20110921-711156.html