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Montevideo, December 2nd 2022 - 13:22 UTC
France, Germany and nine other European Union states side-stepped British opposition this week and won approval for a tax on financial transactions, it emerged on Wednesday. Read full article
This story isn't what it might appear at a glance. In fact it is great news. They haven't imposed this tax on London - just themselves. More business for Britain should be the result.
there own greed will be there own downfall!!!
Who said that Turkey's don't vote for Christmas. They just have - by a landslide!
@1 I had to read it twice to make sense of it.
Surely ALL 17 Euro nations will be bound by this decision, not just those mentioned ... ?
The odd thing about this is that I can't find any mention of it outside here and the BA Herald.
If it had been imposed on London it would be front page news and I'm surprised it isn't even under these circumstances.
What they have really done :-
11 European Union countries clinched enough support to start drawing up plans for a financial transactions tax.
As long as it's not implemented in the UK then I don't suppose we'll care. There isn't any mention of efforts to try to.
A good analysis of the proposals:-
....so to summarise - it's a stupid idea. I say let them get on with it.
enhanced co-operation - double plus good.
EU Taxation Commissioner Semeta said the tax, strongly rejected by the UK could yield up to 57 billion Euros a year
All you idiots here need to understand, trading of those (worthless) derivatives, is the main business of the city of london and it's main trading partners are in mainland Europe. This is all part of Germany who wants the UK out so that Frankfurt am Main will become the new financial capital of Europe and perhaps of the world.
Camaron is shitting is his pants and is desperate because he knows that it's people will get the UK out of the EU, while he needs Europe to bail out the zombie banks in the city of london.
11 Fido Dido
There speaks an idiot who clearly doesn't understand himself. I work in an investment bank in the City of London, sat at my desk right now in fact. What do you do?
( 12 ) Idlehands
I work in an investment bank in the City of London, sat at my desk right now in fact.
”You work in an investment bank in the City of London and didn't know about Vale until yesterday?
May I ask.... What desk are you sitting at?
You again show your lack of knowledge, there is no reason foe everyone in an investment bank to have heard of Vale!!
The good news is that everyone is happy (except Fido, but he is never happy, kind of an Eeyore type)
- 11 EU nations get to tax financial transactions as they wanted
- London avoids the tax and wins more business
The Swedes applied a tax on equity trades in the 90s. Overnight the industry moved to London - after a few years they scrapped it. This too will be an own goal. The big EU banks will just shift taxed transactions to London (or Switzerland, or Singapur, or anywhere really).
Time will tell,
the european union will impload, good luck,
but we need to get out now, not in 5 years time, camaron is playing with matches again.
Its about time Deutsche Bank finally moved its headquarters from Frankfurt to London. They've been toying with it for years - Germany may have finally given them their marching orders.
The continentals are constantly finding new ways to give London their money. Even ex president Sarkozy is moving his Billion to London
they have had 40 years,
and all they have done is screw it up,
they cant even standardise a simple plug.
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