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

Seems like this thread is losing interest just when we need support.

This news in Germany isn't good. Merkel may have to cave on FTT more to
pass her EU fiscal compact. Socialists are gaining power in Europe with Hollande and that weakens Merkel. On one hand, the current power sharing with Sarkozy and Merkel may fracture, but it's not good if socialists form new power sharing or minority blocking.

CNBC.com Article: Merkel Faces Challenge at Home on Fiscal Pact

German Chancellor Angela Merkel has work ahead to get new euro zone budget discipline rules approved at home, after the government confirmed on Saturday the treaty will require a two-thirds majority in both houses of parliament.

BFull Story:
http://www.cnbc.com/id/46612855

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Robert A. Green
 
Merkel got herself into it on bad advice. No-one outside a few sporadic obsessed crazies wants it. Foreign governments don't want to be dragged into a risky, complicated and unpredictable tax scheme that could result in a politically grotesque miscalculation. The majority of countries responded entirely unsupportive, resistant and dismissive to the inappropriate pressures of a few domineering EU individuals. Our socialist government spokespersons firmly dismissed an internal suggestion of ftt as "nuts".

http://www.ft.com/intl/cms/s/0/c69e52d6-66eb-11e1-9e53-00144feabdc0.html#axzz1oI4kV1um
 
Quote from andohmeeta:

Merkel got herself into it on bad advice. No-one outside a few sporadic obsessed crazies wants it. Foreign governments don't want to be dragged into a risky, complicated and unpredictable tax scheme that could result in a politically grotesque miscalculation. The majority of countries responded entirely unsupportive, resistant and dismissive to the inappropriate pressures of a few domineering EU individuals. Our socialist government spokespersons firmly dismissed an internal suggestion of ftt as "nuts".

http://www.ft.com/intl/cms/s/0/c69e52d6-66eb-11e1-9e53-00144feabdc0.html#axzz1oI4kV1um
More...

Wow it sounds like Ms. Merkel is in a real pickle here, lol. They need to either just enact some quasi ez ftt that will kill off the entire eurozone or just kill this entire ftt proposal all together. There is another EU fin min meeting next week where they will surely talk about the ftt. I think it's pretty clear that an EU ftt is not going to happen.

-Guru
 
Quote from Stok:

Yup, joe blow investor pays this tax. The evil banks make out like bandits! Socialism works!

F*ck the French!
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+1
The average small investor is obligated to pay into the "bailout fund" for which the tax initially was for. So the guy with the 25k EUR account bails out the millionaire bankers who take ridiculous risk, well done Mr. Sarkozy, makes perfect sense.
 
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