Taxation fit for a mésentente cordiale
Political convenience should not be mistaken for good economic policy. Mr Sarkozy’s fixation with a transaction levy was always a mistake
Financial transaction tax
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A Tobin tax on financial transactions has won the backing of the European Commission and the two governments at the heart of the eurozone, France and Germany, although wider agreement within the EU is proving more difficult
EU looks at stamp duty to settle tax impasse
Share transactions stamp duty is a potential compromise for EU finance ministers trying to break the deadlock over financial transaction tax
Opposition presses Merkel on transactions tax
The Social Democratic party and the Greens are calling for action on the FTT as the price of their support for the new eurozone treaty
FTT would have cost €38bn, says Efama
Calculations show that investors in Ucits funds would have paid €15bn in levies if the financial transaction tax pushed through last year
France to push on with trading tax
Baroin pointedly says inspiration for levy was UK’s own 0.5% stamp duty on share trading
France pulls punch on financial tax
Nicolas Sarkozy says by taking the lead, France will provide a ‘shock’ to push other European nations into signing up to a full-blown tax covering the gamut of financial transactions
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Comment and analysis
Tobin tax costs ‘would fall on investors’
The Commission’s proposed financial transaction tax would spell the end for money market vehicles and other low-risk investments and accelerate the use of passive funds
Tobin tax will not solve the gigantic problem
Banks need to be shrunk back to size – but there must surely be cleverer ways of doing it, writes Tony Jackson
Europe’s search for a silver bullet
Even if Tobin taxes could be made to work, they would do little good because most purposes they are supposed to achieve are better pursued with other taxes
Financial transaction taxes
The European Commission’s plan for a financial transaction tax is a good idea in principle, but very difficult to implement in practice
Long-term investors would benefit from Tobin tax
The case for throwing sand in the wheels is greater because today’s markets are excessively fast but their claim to be efficient is open to question, writes John Plender
EU Tobin tax: a desperate measure
A financial transaction tax is seductively attractive, but it is inherently complex and would be difficult to collect
Quick View: The devil in the Tobin tax detail
Without firm details of a European financial transaction tax, it is difficult to assess the impact on the region’s complicated market structure
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