EU announces at G20 ‘Tobin tax’, opposed by US. UK and Sweden

Tuesday, June 19th 2012 - 06:31 UTC

Full article 4 comments

The European Union will “soon” move forward with a financial transaction tax (FTT), European Commission President Jose Manuel Barroso said Monday, as he also spoke in favour of Euro-bonds. Read full article

Comments

Disclaimer & comment rules

Idlehands
“suggesting it could fund development aid for poorer countries.”

Who is he trying to kid? The only reason it is being brought forward is to plug the holes in the EU budget and get London to pay the lions share of the Euro shambles.

If the Euro zone wants to get on with it then fine - but the UK will not be dragged into it.
Jun 19th, 2012 - 08:13 am - Link - Report abuse 0
-+
slattzzz
EU thats clever eh tax yourselves some more, UK / US / Sweden tell them to ram it
Jun 19th, 2012 - 04:31 pm - Link - Report abuse 0
-+
SOS
The rest of the world rejected Mr Barroso's unviable tax three years ago. The IMF, the USA, Canada, Hong Kong, Singapore, China, Australia, Russia, Sweden, the UK (the list is endless) long ago knew that the tax mentioned in this story spells financial ruin.
But some of the blindly tax-obsessed Europeans still want their citizens to suffer. I found this educational material, probably it's the information that these peculiar Europeans deceitfully don't want their understandably less-informed public to know about: http://www.financialtransactiontaxes.com
Jun 19th, 2012 - 10:12 pm - Link - Report abuse 0
-+
Yomp to victory
Calm down, the FTT will never happen. As it is, the gulf between north and south is so dramatic that Denmark, which is an ERM II country of barely 5 million people with five times as much external debt as Argentina has, actually gets PAID interest by the international money markets for letting them lend money to Denmark and will shortly be forced into setting negative official interest rates in order to maintain the pegging of its currency to the Euro.

Push the FTT button for the Eurozone and the EU will collapse with the whole of northern Europe withdrawing to do their own thing with Norway and Iceland - and that is the last thing Barroso wants, because pigs will fly before Germany will isolate itself in an EU in which the only other members are bankrupt Mediterranean countries.
Jun 20th, 2012 - 05:08 am - Link - Report abuse 0
-+

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!