ECOFIN meeting on-demand playback:
http://video.consilium.europa.eu/webcast.aspx?ticket=775-979-11010
http://video.consilium.europa.eu/webcast.aspx?ticket=775-979-11010
1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
Luxembourgâs Finance Minister Luc Frieden said a tax is impossible without Britain, home to Europeâs largest financial sector.
âWithout the U.K. there will be no transaction tax,â Frieden said on his way into the meeting. âI think the principle of the tax is OK, but that all 27 states have to participate.â During the public debate, he said the EU should reconsider its geographic approach for applying a transaction tax and should also consider the taxâs impact on jobs and the overall economy.
I find it odd that the Luxembourg finmin says that the principle of the ftt is OK. Surely he must know how flawed this tax is and that it won't hit the banks.
Anyway the article sounds like more of the same. More studies and time to massage the numbers and twist the arms of the opposed member states.
-Guru
"I find it odd that the Luxembourg finmin says that the principle of the ftt is OK. Surely he must know how flawed this tax is and that it won't hit the banks. "
nothing is odd. . luxembourg is nothing but banks. you protect your base but still sound like a populist to the people.
try reality for a change.
nothing is odd. . luxembourg is nothing but banks. you protect your base but still sound like a populist to the people.
try reality for a change.
Rebuttal to Pro-FTT propaganda:
I've written (with the help of a couple of friends) an anti-FTT document that will be posted on tortoise's website in the near future.
It's a direct response to the pro-FTT propaganda. It addresses the fundamental issues such as who actually pays the tax, Britain's so-called FTT (that really isn't), etc., etc. This document uses the many articles posted here to address each of the major issues.
I'm looking for feedback on the document before it's posted on the web and I'd like to send it to anyone here who's interested in reviewing it.
If you'd like to see the current draft of the anti-FTT document and provide feedback, please send me a PM with an email address at which you can receive an attached pdf document.
Thanks,
Tom Davis
I've written (with the help of a couple of friends) an anti-FTT document that will be posted on tortoise's website in the near future.
It's a direct response to the pro-FTT propaganda. It addresses the fundamental issues such as who actually pays the tax, Britain's so-called FTT (that really isn't), etc., etc. This document uses the many articles posted here to address each of the major issues.
I'm looking for feedback on the document before it's posted on the web and I'd like to send it to anyone here who's interested in reviewing it.
If you'd like to see the current draft of the anti-FTT document and provide feedback, please send me a PM with an email address at which you can receive an attached pdf document.
Thanks,
Tom Davis
Malta ânot interestedâ in enhanced cooperation on transaction tax
âOur position on the FTT is clear. We believe that it is not in our interest to have this kind of inefficient tax which will harm our competitiveness and jobs.â
http://www.timesofmalta.com/article...nhanced-cooperation-on-transaction-tax.411251
âOur position on the FTT is clear. We believe that it is not in our interest to have this kind of inefficient tax which will harm our competitiveness and jobs.â
http://www.timesofmalta.com/article...nhanced-cooperation-on-transaction-tax.411251
From reading both the ft article and the euroactiv piece it sounds to me anyway that the ftt (at least in it's current) form is pretty much dead. They mention an EU stamp tax (including derivatives) which I would think the UK would oppose (the derivative part). The other idea being tossed around is a financial activity tax (FAT) which was mentioned both by Germany (Schauble) and Denmark. It seems as though finally the reality that the ftt just isn't feasible is starting to sink in
This is very good news indeed,
-Guru