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1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
Quote from Explorer:
[UK leader of opposition] Miliband (also) pledged his support for a financial transaction tax, dubbed the Robin Hood tax, but only if it is implemented internationally.
He said: âThe way this Robin Hood tax is going to work is if you have it in each major financial centre. We already have a tax on share transactions in this country and if we are going to make an international financial transactions tax work then it has to be in every major financial centre.
âOur plan is to implement it in Europe and the major financial centres like New York. We hope it can happen and that is how we hope to do it.â
http://www.moneymarketing.co.uk/pol...ve-remutualised-northern-rock/1058981.article
âOur plan is to implement it in Europe and the major financial centres like New York."
Yeah good luck with that.
-Guru
Quote from sheda:
Quite shocked he did not jump on the solo bandwagon - I note he left Asia out also.
He's moderated his earlier policy (Europe/UK ftt), now he says not without all the majors. By the time he gets the gig (history shows that western governments usually get two terms) the wider political landscape will have changed all over again. He would need to get all his sitting ducks lined up in one row on the same time-frame. Can't see that happening in the foreseeable future.
Finland's stand on transaction tax postponed
Yle news sources said on Friday that the government has now postponed a decision on whether or not to back a proposed EU financial transition tax.
According to Yle sources, Finance Minister Jutta Urpilainen intends to inform a meeting of EU colleagues next week that the Finnish government has not be able to formulate a position on the issue of the financial transaction tax proposal. The decision to proceed in this manner was approved by the Cabinet's EU affairs council on Friday morning.
The two main government partners, the National Coalition and the Social Democratic Party, disagree over the proposed tax. The SDP wants Finland to take part in preparing for such a tax, while the National Coalition opposes such a move.
http://yle.fi/uutiset/finlands_stand_on_transaction_tax_postponed/6323267
Yle news sources said on Friday that the government has now postponed a decision on whether or not to back a proposed EU financial transition tax.
According to Yle sources, Finance Minister Jutta Urpilainen intends to inform a meeting of EU colleagues next week that the Finnish government has not be able to formulate a position on the issue of the financial transaction tax proposal. The decision to proceed in this manner was approved by the Cabinet's EU affairs council on Friday morning.
The two main government partners, the National Coalition and the Social Democratic Party, disagree over the proposed tax. The SDP wants Finland to take part in preparing for such a tax, while the National Coalition opposes such a move.
http://yle.fi/uutiset/finlands_stand_on_transaction_tax_postponed/6323267
Portugal has joined efforts by four other nations to adopt a financial-transaction tax among a subset of European Union nations, EU spokeswoman Emer Traynor said today.
The Brussels-based commission is ready to move quickly once it receives requests from four additional countries, Traynor said in a text messages. [...]
http://www.businessweek.com/news/20...support-to-eu-nations-seeking-transaction-tax
The Brussels-based commission is ready to move quickly once it receives requests from four additional countries, Traynor said in a text messages. [...]
http://www.businessweek.com/news/20...support-to-eu-nations-seeking-transaction-tax
AGI) Brussels, Oct 5 - Eight European countries are ready to institute a tax on financial transactions. With one more it will be possible to initiate the 'enhanced cooperation' provisions under the Treaty of Lisbon for a measure on which there is no overall agreement but the support of at least one third of EU countries. As sources from the Cypriot presidency report, France and Germany, who were first to commit themselves in writing, have recently been joined by Portugal, Belgium and Austria, while Slovenia, Estonia and Greece will formalise their commitment by the Ecofin council meeting on Tuesday.
http://www.agi.it/english-version/b...ers_ready_for_tobin_tax_now_waiting_for_italy
http://www.agi.it/english-version/b...ers_ready_for_tobin_tax_now_waiting_for_italy
Let Those Traders Go To Work Building Windmills - Jill Stein On The Transaction Tax
http://www.forbes.com/sites/peterjr...-windmills-jill-stein-on-the-transaction-tax/
http://www.forbes.com/sites/peterjr...-windmills-jill-stein-on-the-transaction-tax/
Quote from Explorer:
AGI) Brussels, Oct 5 - Eight European countries are ready to institute a tax on financial transactions. With one more it will be possible to initiate the 'enhanced cooperation' provisions under the Treaty of Lisbon for a measure on which there is no overall agreement but the support of at least one third of EU countries. As sources from the Cypriot presidency report, France and Germany, who were first to commit themselves in writing, have recently been joined by Portugal, Belgium and Austria, while Slovenia, Estonia and Greece will formalise their commitment by the Ecofin council meeting on Tuesday.
http://www.agi.it/english-version/b...ers_ready_for_tobin_tax_now_waiting_for_italy
So I'm guessing there's some serious pressure being put on Spain and Italy here behind the scenes. Most of these 8 countries that have signed on are insignificant in the world of finance so no loss for them. It will be very interesting to see how this plays out.
If they get to 9 there is still a long road ahead filled with many minefields. Probably one of the biggest is who (or what) is going to get all those billions (LOL). Oh wait this tax won't raise much if any revenue (LOL)..
-Guru
Progress Seen on EU Transaction Tax - WSJ.com
http://online.wsj.com/article/SB10000872396390443768804578038483868259290.html
It seems like France and Germany are close to EC 9 for FTT. Finland is probably going to be be a no vote, and Hungary just said no on Friday. But, the needed 4 countires could be Slovenia, Slovakia, Estonia and Greece. Hope Estonia comes to their senses if Finland, their neighbor is a no vote. Estonia has been smart on banking and business since independence, with young American-educated leaders.
I commented on the above WSJ article.
http://online.wsj.com/article/SB10000872396390443768804578038483868259290.html
It seems like France and Germany are close to EC 9 for FTT. Finland is probably going to be be a no vote, and Hungary just said no on Friday. But, the needed 4 countires could be Slovenia, Slovakia, Estonia and Greece. Hope Estonia comes to their senses if Finland, their neighbor is a no vote. Estonia has been smart on banking and business since independence, with young American-educated leaders.
I commented on the above WSJ article.