The European Central Bank's Christian Noyer has said that the European Comissions' proposed transaction tax will raise no funds, and could penalise savers. The official also warned that the tax, planned by 11 EU countries, could hinder the monetary policy transmission mechanism. http://www.cityam.com/blog/ecbs-noy...-complicated-and-could-affect-small-countries
Former SEC chairman Arthur Levitt, says FTT is a terrible idea in this podcast: http://castroller.com/podcasts/BloombergSurveillance/3577585
Danish Bank governor rejects financial transaction tax http://www.centralbanking.com/centr...sh-governor-rejects-financial-transaction-tax
A Tobin tax is unworkable - and Europe's politicians know it http://www.telegraph.co.uk/finance/...workable-and-Europes-politicians-know-it.html
Great ~ Bar the fact it directly contradicts the free movement of capital and hits London and business just as hard if not harder than anything else. Ten pip spread for a start, Genius!
http://www.ft.com/cms/s/0/ba8e4232-c79b-11e2-9c52-00144feab7de.html#axzz2UlTmuGlH I can not believe who wrote this article, they havent even read the commisions proposol.