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

He must be talking about Germany and France because everyone else has said no to the FTT.

Quote from andohmeeta:

(Can't figure who the G20 "partners" Barroso is talking up in my previous post. He doesn't appear to have any).
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Quote from tomdavis:

It's good to know that if someone in Toronto does business with someone in Hong Kong the EU may not decide to tax it. What a relief!
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LOL...But seriously the old style FTT like there was in France, I think it was the case, what made it taxable was that it was traded on Euronext whether there was a french national in the deal or not... Not sure but almost.
 
Would not even be able to open a company abroad and trade through it as you would be considered an employee of that company carrying out trades within the EU.
 
Quote from JamesL:

I see a whole new market for tax accountants and attorneys going forward.
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Why is it that nobody ever mentions these professions when discussing the elimination of parasites from the economy?
 
Quote from tomdavis:

Ireland, Poland and the Czech Republic have all said at one time or another that they would vote against the FTT unless the UK was willing to participate. But Ireland received a lot of help from the EU restructuring its debt, so it may be difficult for them to say no. Poland and the Check Republic have very little to lose so they could change their minds for any reason. Even Bulgaria has come out against the tax, but I'm not sure what these smaller countries will do when faced with a vote that doesn't really affect them very much (and a "no" vote may earn them enemies in the EU).

My research shows that there are 7 EU countries with highly-developed financial markets. These countries, as a group, will be paying over 90% of the FTT bill and are also the ones that will lose the most jobs and income/capital gains tax revenues if investment funds and financial services companies relocate outside the FTT zone:

The UK
Germany
The Netherlands
France
Sweden
Ireland
Malta

The other EU countries have very little at stake and are unlikely to vote against the FTT at the risk of making enemies of Germany, France, and the EU Commission. (Though I'm hoping a couple of other countries will vote no just so it doesn't look so one-sided.)

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Regarding Eurozone rules: My undertstanding is that all EU or Eurozone taxes on the member states require unanimous consent. However, I don't think there's anything stopping a group of countries from getting together and forming a taxation agreement among themselves. It wouldn't officially qualify as a Eurozone tax, but the individual countries would be free to make any arrangement they want among themselves.

I'm not an expert on Eurozone taxation rules so I'm just giving my best guess based on what I've read. If anyone has a more detailed understanding of EU/Eurozone taxation rules, this would be an advantageous time to share your knowledge with us.
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Just an FYI it sounds like individual countries within the Eurozone could levy their own ftt:

http://www.telegraph.co.uk/finance/...-financial-transaction-tax-would-harm-UK.html

"There were reports that Brussels was prepared to adopt the tax without the UK's approval, although experts insisted the measures could not be imposed on London."

Mark Sheiham, a partner at law firm Simmons & Simmons, said: "Tax measures have to be agreed unanimously. Other countries could pass the tax individually. This would hit City banks trading with Continental counter-parties but the tax could not be imposed while resisted by the UK Government."

Also I like this quote from the Tory MEP and spokeswoman Kay Swinburne:

"This is not an EU-wide tax but a tax on the City of London. If there has to be a financial transaction tax [FTT] it needs to be a eurozone solution to a eurozone problem... The success of the City of London must not be sacrificed in a spurious bid to bolster the eurozone."

-Guru
 
The Barroso speech was sinister in its dogmatic content and almost hysterically dictator-like in its tone of delivery.

Aside from business interests, the UK should watch out or they will be no more than a decimated outpost predictably brought down and interminably overshadowed as the result of a temporary few disproportionately powerful, controlling ego maniacs.

The rest of the world may now be asking the same question as Farage, "How does one man achieve so much power." And they may also be convinced that the G20 club has become nothing more than an opportunity for any domineering host leadership to attempt force-feeding ill-conceived policy onto the majority unwilling.

Our ancestors did not fight and die to ultimately be economically shoved around and possibly destroyed by an incompetent and imperious little group of fanatics.

The manifesto repeatedly implied international compliance. Circumspect G20's should consider world governance ambitions and attempts to over-influence their internal affairs as a fluorescent red stop-light. In arrogance, he and his cronies clearly refuse to acknowledge or accept the opposite outside world view. His presumed G20 "partners" are by now possibly his most disdainful adversaries.
 
Quote from andohmeeta:

The Barroso speech was sinister in its dogmatic content and almost hysterically dictator-like in its tone of delivery.... His presumed G20 "partners" are by now possibly his most disdainful adversaries.
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Good post... +1 :cool:
 
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