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

If Hollande tries to ftt arm-twist Obama, he can't count on Canada, UK, Russia and Japan.

-----http://www.guardian.co.uk/world/2012/may/18/g8-summit-financial-tax?newsfeed=true

The G8 Communique should provide some clarification.
 
G8 communique,

-----http://www.g8.utoronto.ca/summit/2012campdavid/g8-economy.html

"Against this background, we commit to take all necessary steps to strengthen and reinvigorate our economies and combat financial stresses, recognizing that the right measures are not the same for each of us."

Merk's influence fading. DC's assertive language surprisingly welcome.
 
Quote from Stok:

Fox just showed a big gathering of nurses in Chicago for that NATO summit. Mentioned they want the robbin hood tax to pay for health care. Several hundred of them.
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Believe it or not, they are now running ads on national tv for this tax. I just saw the ad while watching the Sunday news programs that was sponsored by the nurses and referencing the Robin Hood thingy. I won't post their link here but I am sure we're all smart enough to ferret it out.
 
I can only imagine the sinking feeling that anyone who trades for a living must feel when they read about this stuff. Even though the odds of it ever happening are slim it still must be like a dark cloud lurking out there on the horizon.
 
Quote from JamesL:

Believe it or not, they are now running ads on national tv for this tax. I just saw the ad while watching the Sunday news programs that was sponsored by the nurses and referencing the Robin Hood thingy. I won't post their link here but I am sure we're all smart enough to ferret it out.
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I have to think that the powers that be picked the Nurses to be the face of this move. Cant think of a more sympathetic non-public union.
 
Quote from Mercor:

I have to think that the powers that be picked the Nurses to be the face of this move. Cant think of a more sympathetic non-public union.
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should have seen the commercial...couldn't get any more stereotypical in their portrayal
 
Quote from listedguru:

The FTT's time has come

http://www.internationaltaxreview.com/Article/3033248/The-FTTs-time-has-come.html?LS=EMS655391

This article says that a EZ ftt is a real possibility following it getting voted down next month at the EU level. I still find it unlikely that they can find 9 EZ 'yes' votes to proceed with enhanced cooperation.

Sorry I can't paste the text from the article.

-Guru
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Whether or not they can get nine votes depends on wild-card countries like Finland. On the one hand Finland claims to support the FTT, but then their President said it would hurt them unless Sweden was part of the FTT pact. What Finland will do is anybody's guess. And then there's the Netherlands who almost say they're against it, but never actually say "no" with any conviction. The same is true of Luxembourg. The only EZ country that's been unwavering is tiny Malta.

The other big question is whether or not Germany would participate in an FTT arrangement if it was just them and a bunch of smaller weaker countries. Who knows what will happen. This situation is as foggy as the fog of war.
 
Quote from tomdavis:

Whether or not they can get nine votes depends on wild-card countries like Finland. On the one hand Finland claims to support the FTT, but then their President said it would hurt them unless Sweden was part of the FTT pact. What Finland will do is anybody's guess. And then there's the Netherlands who almost say they're against it, but never actually say "no" with any conviction. The same is true of Luxembourg. The only EZ country that's been unwavering is tiny Malta.

The other big question is whether or not Germany would participate in an FTT arrangement if it was just them and a bunch of smaller weaker countries. Who knows what will happen. This situation is as foggy as the fog of war.
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Very good assessment Tom. It will be very interesting to see what these countries vote next month. That should give us a pretty good idea where an EZ ftt stands. But like you said lots of 'fog' out there.

-Guru
 
One thing is sure, if they ever manage to create an EU FTT, it will take time for its revenues( if revenues there are ) to compensate for the endless years of debates and taxpayer's backed impact assessments. If we add all the money the commission, the EU parliament, Semeta, the United Nations, Unions.... have spent PROMOTING this idea, it is already more than the expected yearly revenue of the french Tobin Tax.
 
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