Barroso backs financial transactions tax

[ASusilovic]

José Manuel Barroso, European Commission president, has proposed a tax on financial transactions to help rebuild public finances across the bloc, calling it a matter of fairness.

http://www.ft.com/intl/cms/s/0/19c46aca-e9ad-11e0-adbf-00144feab49a.html#axzz1Yt34MJk3

 

[THE-BEAKER]

Quote from ASusilovic:

José Manuel Barroso, European Commission president, has proposed a tax on financial transactions to help rebuild public finances across the bloc, calling it a matter of fairness.

http://www.ft.com/intl/cms/s/0/19c46aca-e9ad-11e0-adbf-00144feab49a.html#axzz1Yt34MJk3

all algos and hft trading will obviously be exempt

 

[ASusilovic]

Quote from THE-BEAKER:

all algos and hft trading will obviously be exempt

Wrong conclusion. They are especially being targeted by this tax. Germany and France have been the masterminds of the tax draft.

 

[denner]

Quote from THE-BEAKER:

all algos and hft trading will obviously be exempt

I suspect the same. There will be some deeply hidden set of exemptions that every I-Bank will qualify for. Obviously, it would eliminate all of the competition and would be yet another bonanza.

Just look at Obamacare and how the biggest cronies find a way into the exempt list.