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

[Explorer]

(Reuters) - G20 officials are discussing the merits of a financial transactions tax on banks, sources at the Paris meeting said on Friday, but no progress was expected given the wide array of opponents to the plan[...]

http://www.reuters.com/article/2011/10/14/us-g20-tax-idUSTRE79D1BC20111014

 

[Explorer]

Those wanting Europe to act must accept finance tax: Merkel

http://www.expatica.com/de/news/ger...ct-must-accept-finance-tax-merkel_181992.html

This article also states that G20 countries Japan and Brazil are in favour of an FTT. Is this true? I thought both were opposed.

 

[JamesL]

I believe they both already have some type of FTT currently.

 

[tomdavis]

Brazil congress defeats financial transactions tax

http://www.reuters.com/article/2011/09/21/brazil-politics-health-idUSS1E78K0PN20110921

Quote from JamesL:

I believe they both already have some type of FTT currently.

 

[FightTheFuture]

Political Insiders Say Dems Should Keep Their Distance From Occupy Wall Street Movement

"The Occupy Wall Street 'movement' is nothing like the tea party movement," said another Democrat. "It is much more like the thugs who go to [World Trade Organization]-type conferences. It is far more violent than the tea party movement and is far too volatile for a close association."

http://hotlineoncall.nationaljournal.com/archives/2011/10/political-insid.php

 

[sheda]

Those wanting Europe to act must accept finance tax: Merkel

Those wanting Europe to fix the mess they of there own accord created must accept the further mess and destruction of European policy makers - I hope to god this that comment makes the g20 feel as I just did, just who the hell do you people think you are.

Merkel said the roots of Europe's current debt crisis went back "years, even decades" and, as a result, "cannot be solved overnight.

Nice to see she now understands the problem, eh?

 

[JamesL]

Quote from tomdavis:

Brazil congress defeats financial transactions tax

http://www.reuters.com/article/2011/09/21/brazil-politics-health-idUSS1E78K0PN20110921

http://www.topforexnews.com/2011/07/27/brazil-real-loses-on-fx-tax-dollars-sudden-appreciation/

http://www.nasdaq.com/aspx/stock-ma...mentcentral-bank-diverge-over-forex-taxreport

 

[Robert A. Green]

Get ready for another power play in Europe between Germany versus the US and BRIC-powered IMF and G-20.

Merkel is using US-style play chicken and hold hostage games on the bailout financing.

Merkel. No leveraged and juiced up ESFS, unless FTT is adopted everywhere to pay for the bailouts without competitive disadvantage to Germany. Merkel will say we are all in this mess together on bailout financing and we all must adopt FTT or no financing. Germany knows the US and G-20 are very scared of meltdown bank contagion and she figures she can hold non-eurozone players hostage on the crisis and FTT.

Geithner and others in BRIC and G-20 say you must do the juiced up ESFS, and they will match it with a juiced up IMF financing too.

Geithner, BRIC and G-20 won't accept FTT.

Who will blink first on this one?

 

[Stok]

Quote from Robert A. Green:

Get ready for another power play in Europe between Germany versus the US and BRIC-powered IMF and G-20.

Merkel is using US-style play chicken and hold hostage games on the bailout financing.

Merkel. No leveraged and juiced up ESFS, unless FTT is adopted everywhere to pay for the bailouts without competitive disadvantage to Germany. Merkel will say we are all in this mess together on bailout financing and we all must adopt FTT or no financing. Germany knows the US and G-20 are very scared of meltdown bank contagion and she figures she can hold non-eurozone players hostage on the crisis and FTT.

Geithner and others in BRIC and G-20 say you must do the juiced up ESFS, and they will match it with a juiced up IMF financing too.

Geithner, BRIC and G-20 won't accept FTT.

Who will blink first on this one?

Geithner is pretty set in stone (I hope). And, he knows this is a political move to destroy markets by liberal socialists.

It will be an interesting weekend on the news front.

 

[tomdavis]

Even if Geithner was in favor of the FTT, he couldn't impose it just because he feels like it. It would have to get through congress. But let's hope it doesn't come to that and Geithner tells Merkel "no" in a firm enough tone of voice that she gets the message this time.

Let's also watch the Canadians and other anti-FTT G-20 countries to see if there's any backpeddling.

Quote from Stok:

Geithner is pretty set in stone (I hope). And, he knows this is a political move to destroy markets by liberal socialists.

It will be an interesting weekend on the news front.