Skip to comments.EU grouping gets OK for financial transaction tax
Posted on 01/22/2013 7:00:01 AM PST by ExxonPatrolUsEdited on 01/22/2013 10:40:02 AM PST by Admin Moderator. [history]
BRUSSELS (AP) — A group of 11 European Union countries was given the go-ahead Tuesday to work on the introduction of a tax on financial transactions.
The tax is designed to help pay for the rescue of Europe's banks and discourage risky trading. It would apply to anyone in the 11 countries who makes a bond or share trade or bets on the market using complex financial products called derivatives.
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Beginning of the assault on London’s financial sector.
The EU was a stupid idea and will eventually fail, maybe in 50 years.
The common market was a good idea.
It will be here sooner rather than later.
“Punishing” the banks and “making them pay” for the bailout and past transgressions is a wildly popular, populist idea.