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Germany, France and nine other EU countries approved tax on financial transactions

Friday, January 25th 2013 - 04:54 UTC
Full article 18 comments

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

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  • Idlehands

    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.

    Jan 25th, 2013 - 05:37 am - Link - Report abuse 0
  • Teaboy2

    there own greed will be there own downfall!!!

    Jan 25th, 2013 - 06:21 am - Link - Report abuse 0
  • Redrow

    Who said that Turkey's don't vote for Christmas. They just have - by a landslide!

    Jan 25th, 2013 - 07:29 am - Link - Report abuse 0
  • expbrit

    @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 ... ?

    Jan 25th, 2013 - 08:36 am - Link - Report abuse 0
  • Idlehands

    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.

    Jan 25th, 2013 - 09:28 am - Link - Report abuse 0
  • agent999

    What they have really done :-
    “11 European Union countries clinched enough support to start drawing up plans for a financial transactions tax.”

    http://www.nasdaq.com/article/ecofin-germany-france-hope-for-quick-implementation-of-transaction-tax-20130122-00940#.UQJXyGc2ySo

    Jan 25th, 2013 - 10:05 am - Link - Report abuse 0
  • Idlehands

    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.

    Jan 25th, 2013 - 10:10 am - Link - Report abuse 0
  • agent999

    A good analysis of the proposals:-

    http://www.huffingtonpost.com/2013/01/24/eu-financial-trading-tax_n_2539913.html?utm_hp_ref=business

    Jan 25th, 2013 - 10:14 am - Link - Report abuse 0
  • Idlehands

    ....so to summarise - it's a stupid idea. I say let them get on with it.

    Jan 25th, 2013 - 10:30 am - Link - Report abuse 0
  • Condorito

    “enhanced co-operation” - double plus good.

    Jan 25th, 2013 - 01:22 pm - Link - Report abuse 0
  • Fido Dido

    “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.

    Jan 25th, 2013 - 04:19 pm - Link - Report abuse 0
  • Idlehands

    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?

    Jan 25th, 2013 - 04:50 pm - Link - Report abuse 0
  • Think

    ( 12 ) Idlehands

    You say....:
    “I work in an investment bank in the City of London, sat at my desk right now in fact.”

    I say....:
    ”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?

    Jan 25th, 2013 - 06:18 pm - Link - Report abuse 0
  • agent999

    13 @Think
    You again show your lack of knowledge, there is no reason foe everyone in an investment bank to have heard of Vale!!

    Jan 25th, 2013 - 06:28 pm - Link - Report abuse 0
  • Condorito

    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).

    Jan 25th, 2013 - 06:58 pm - Link - Report abuse 0
  • briton

    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.

    Jan 25th, 2013 - 07:55 pm - Link - Report abuse 0
  • brasherboot

    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

    Jan 26th, 2013 - 01:38 am - Link - Report abuse 0
  • briton

    they have had 40 years,
    and all they have done is screw it up,

    they cant even standardise a simple plug.
    out now.

    Jan 26th, 2013 - 08:04 pm - Link - Report abuse 0

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