France, Germany to Propose Financial-Transaction Tax

guess the only criteria to become a politician is be less than incompetent

 

I would guess that 90 % of my European clients ( about 20 to date ) have already opened accounts with Chicago FCM's because the futures commissions are cheaper.

It is an electronic world - and this will just kill off what is left of the European clearing business.

 

"A 1996 report on financial transactions taxes for the Canadian government found that Sweden’s 1984 levy of 1 percent on equity trades, doubled two years later, caused half of the country’s trading to move to London by 1990, a year before the tax was abolished. Capital gains revenues decreased as volume sank, “almost entirely offsetting revenues from the equity transactions tax,” the report said."

http://www.bloomberg.com/news/2011-...-valuations-euro-trades-near-3-week-high.html

 

AFAIK, only designated market makers are exempt. Everyone else, institutions, pension funds, hedge funds, individuals all have to pay it. Some funds skip it by using CFDs (contracts for differences).

 

Why the angry smilies ? IMO these are the right ones -->
Those people have a time horizon of their life equal to that of their trades, they're so shortsighted that we can easily guess what they will do from tomorrow: more euro bashing because they're long Italy/Spain/France CDS, LOL.
Good for McDonalds.

 

EUROPE: Initiatives by President Sarkozy and Chancellor Merkel to defend
the euro has been welcomed by Ireland's Minister for Finance Michael
Noonan, but he emphasised that any constitutional change to limit
national deficits was a matter for consideration by the Government, the
Irish Times says. He also said there was no agreement at EU level for a
levy on financial transactions proposed by the two leaders.

 

You must be British. 350.000 USD per capita debt tells you all. Have a nice, debt free day. Next time before you comment, read your own media outlets.

 

Dear Guru,

I hope you are right, but politicians are ugly rats. They are quite ready to sacrifice everything to maintain their privileges. Also, when the situation will become serious in EU, London will need to face the choice it never really made: IN or OUT (and I am afraid the former will prevail in the absence of major uprising)

 

What the fuckkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkk is it with you people..keep typing you fucking idiot.