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

At a time when states are making remarkable efforts to restore their public finances... how can the financial sector triumphantly continue to march, indifferent to the world around it, carelessly and without a care for the disorder it has more than its share in causing," Sarkozy said.
More...


A better description really could not be applied to the EU...
 
Quote from MrPowerBallad:

Sarkozy Demands Financial Transaction Tax

http://www.foxbusiness.com/industries/2011/10/21/sarkozy-demands-financial-transaction-tax/

http://www.businessweek.com/news/20...ledges-rapid-decisions-in-face-of-crisis.html

“Who will dare to say that the legitimacy of the financial transactions tax is questionable?” he said. “It’s global public opinion will bring anger” at governments that reject such a tax.
More...

Wow Sarkozy is becoming more crazy everyday (LOL). His anti capitalistic rants are really getting old. Someone needs to set him straight:)

-Guru
 
Rutte reversal in favour of financial tax

Prime Minister Mark Rutte [Netherlands] has said he now favours a financial transaction tax, reversing his earlier stance against it. But he warned that the introduction of such a tax could unleash fierce competition between banks.

In today’s parliamentary debate on the eurozone debt crisis, the prime minister said he had discussed the possibility of imposing a financial tax with French President Nicolas Sarkozy.

Mr Rutte said he expects proposals to tax financial transaction tax will be high on the agenda of the G20 summit due to be held in France on 3 and 4 November. But he also called for “extreme reluctance” to introduce the tax if other countries did not go along.

http://www.rnw.nl/africa/bulletin/rutte-reversal-favour-financial-tax
 
Under questioning from Plasterk, the [Dutch] prime minister said the government had become more amenable to the idea of a tax on financial transactions, having earlier opposed the measure.

Rutte said he had recently discussed the idea with Germany's Merkel and French President Nicolas Sarkozy and the proposal would be discussed at the G20.

"The cabinet is in favor of this tax, but we are not in favor if it is introduced by just a number of countries because the effect could be enormous," Rutte said.

Rutte said the tax could have "great consequences" on the competitiveness of Dutch banks if only a couple of countries implemented it.

http://www.foxbusiness.com/markets/2011/10/22/dutch-pm-under-fire-over-euro-zone-bailout/
 
Quote from tomdavis:

If the Netherllands folds, that leaves five against the FTT in the EU: the UK, Sweden, Malta, Ireland and the Czech Republic.
More...

Previously the Netherlands had said " only if it's global", but their position now doesn't sound all that different in practise.

Unfortunately it isn't good politics (in Europe) to publicly come out against a FTT. At the risk of sounding Pollyannaish I wonder if declaring that they are now in favour is just for domestic political reasons.

In the UK George Osborne has said he has no problem with a global FTT knowing full well there won't be one.
 
You must log in or register to reply here.
Back
Top