Here's a little blurb from Politico's Morning Money regarding the Senate moving left and the ftt: CAUTION BANKERS: SENATE MOVES LEFT - From a top political analyst: "Looking at the composition of the 2013 Senate post-election, as pertains to financial services in particular: Even where Democrats are replacing Democrats, the caucus becomes markedly more progressive. We now have: Jim Webb - Tim Kaine; Joe Lieberman - Chris Murphy; Olympia Snowe - Angus King; Scott Brown - Elizabeth Warren; Herb Kohl - Tammy Baldwin. The replacements are generally more progressive than the Senators they replace. Also think Sherrod Brown's reelection in the face of enormous outside expenditures positions him to continue to be a nationally prominent progressive voice as well. "In short, you are going to have many more progressives in the caucus and national ones at that (Tammy and Elizabeth both superstars nationwide). Add to that some of the members who are toying with a potential presidential run, since 2016 begins tomorrow, and it won't just be Levin and Merkley who see an attractive target in financial transaction taxes and Dodd-Frank, and continued Wall Street reform."
OK. So next time it's your turn. Try to find an article which doesn't predict FTT armaggedon for retail traders with Wall Street conspiracy for the end of 2012. I swear it's not that hard to find.
The obvious and sad truth is that democracy doesn't work at all well. It is high time that the financial and political systems need upgrading fast. Unless it happens properly , the same ole way will produce debts near $30 trillion by 2016.
[...]London has reportedly indicated that it will not give the green light to enhanced cooperation. The 27 must approve the principle by qualified majority, but a vote will not take place until December 2012 at the earliest.[...] http://www.europolitics.info/united-kingdom-comes-up-with-new-demands-art344868.html
Hmm.. what would be those 'astonishing' new demands Whole article: http://www.europolitics.info/united-kingdom-comes-up-with-new-demands-art344868.html
Sorry its been a long day, the UK And France are anxious to what? France are standing with the UK on this to? They will demonstrate the utmost transparency with and call a vote for what?
It's not very clear to me too. I think that europolitics.info has spoken with an EC/EU representative (or something). The sentence: 'We shall not hesitate to call for a vote, if necessary. And we will obtain a qualified majority.' are the words of this EC representative, and not the words of France or the UK. It means (in my view) that if 'they' call for a vote (asking permission to initiate an enhanced cooperation), they will obtain a qualified majority anyway, regardless the position and new demands of the UK. It seems that France and the UK have done a promise (to demonstrate "the utmost transparency") in the past, but it seems to me that it's just an extra argument of this EC/EU representative to remind the UK of their promise, and therefore not to resist the other EU members in the process of forming an enhanced cooperation.
IMO The UK is simply telling the 11 "If you want to tax all YOUR residents, no problem,If you want to tax everything issued in YOUR country, no problem, If you want to tax everybody on YOUR exchanges, no problem, but if you think our institutions will pay you a tax everytime we accidentally make a deal with your institutions on any worldwide exchange, then you are out of your mind, we will do anything to make your project collapse, will go after every jurisdiction and make your tax man life a living hell"