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

Quote from TraDaToR:

I don't know much about UK institutions, when is the earliest for Cameron to be replaced?
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Who said anything about Cameron getting replaced? I can't read the risk link you posted.

-Guru
 
Copy the title into Google:cool:

It had nothing to do with the article. I am just thinking about the future of the UK. Even if the Tories remain in power and continue to block FTT, I think Switzerland will benefit from FTT more than the UK. People want to be out of the EU, and not just because of the FTT, but also bonus caps, MIFID, HFT rules...The UK needs a solution to remain attractive and fast... Nobody will relocate to the UK if Milliband is just around the corner...
 
Quote from TraDaToR:

Copy the title into Google:cool:

It had nothing to do with the article. I am just thinking about the future of the UK. Even if the Tories remain in power and continue to block FTT, I think Switzerland will benefit from FTT more than the UK. People want to be out of the EU, and not just because of the FTT, but also bonus caps, MIFID, HFT rules...The UK needs a solution to remain attractive and fast... Nobody will relocate to the UK if Milliband is just around the corner...
More...

Didn't recent articles say that FTT in the US and NYS in the 1960s chased the Eurobond market from NYC to London, thereby giving London a huge shot in the arm? Think of all the bankers who moved from NYC and Chicago to London over the years. Almost half the ones I know in NYC have spent time in London.

There could be a huge brain drain out of London back to NYC and Chicago. NYC exchanges, stock indexes and apartments are looking pretty good now. Cosmopolitan bankers won't want to move to dour Switzerland, which is too small and quaint, and in the midst of shock over failed bank secrecy and a US FATCA grip.

The UK is caught between a rock and a hard place and their body language is pretty lame. They are one election away from Labour and caving to Franco German forces on FTT and the banking union. FT editorials seem desperate. Who's going to hear the plea of rich bankers?
 
http://www.top1000funds.com/analysis/2013/03/08/pension-funds-reject-eu-financial-transaction-tax/


[...] If the FTT’s introduction is delayed, Šemeta faces another problem. The Commission’s term, including his own, expires in October 2014. Given the snail-like pace of EU processes, that leaves the EU’s tax commissioner with little time to adjust the FTT timetable if he encounters further obstacles. In principle, there is nothing to stop a new Commission taking over the task of pushing through the FTT where its predecessor left off. Yet a host of political uncertainties, from this September’s German federal election to the EU parliament elections in June 2014, could sap the will in Brussels and across the 11 FTT member states to introduce the tax. [...]
 
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