MEPs approve the Tobin tax (EuroParl gets sneaky, financial transactions tax)

PressEurop ^ | 24 May 2012 | (La Tribune, The Daily Telegraph)

[Olog-hai]

While the leaders of member countries were meeting in Brussels at an extraordinary summit on growth, the European Parliament approved the tax on financial transactions, known as Tobin tax, by 487 votes (152 against, with 46 abstentions).

“The joint resolution of Parliament—whose opinion on the subject is only advisory—approves a proposal from the European Commission presented in September 2011,” reports La Tribune, mentioning that it will not come into force before the end of 2014. …

Nine countries, including Germany and France, are defending bringing in the tax, but others, like Britain, are opposed because they fear it will provoke financial activities to relocate. …

[Olog-hai]

And that is the sole reason for this Tobin tax on financial transactions—to cause the destruction of the City of London as a financial center.

[Loyal Sedition]

Some one please bring some of us up to date on the status of the U.K.

Are they still a sovereign nation, or are they trapped in the Euro nonsense too?

I know they retain their own currency, but apparently are not allowed to control their own borders, labor laws.
Not sure how deeply they are mired in the euro “One World” garbage otherwise.

Can they escape the euro-stupidity or are they now in too deep?
May they simply tell the Germans, French, and others looking to loot them to just bugger-off?

[Olog-hai]

Remember how they got sidelined when Cameron vetoed their last attempt at altering the Treaty of Lisbon (which itself is bad enough, and allowed all of this)? Kinda throws a wrench into the Europhiles’ argument that there is even a semblance of accountability in this new empire. The pro-EU types are extremely radical and want to destroy the nation states at all costs (per the mantra of “ever closer union”) . . . this thing is a monster for real and will only get worse.

[theBuckwheat]

This will add to the forces eroding the ability of the private sector to create wealth, and be a factor in financial services and investing moving to Singapore and Hong Kong.

[wolfman23601]

No, with a strong king or queen and a PM with a spine, willing to tell the Germans and their threats to F off, they could easily hold a referendum and get out of this with the will of the people (and a vast majority want out).