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overtheedge
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EU Financial Tax Portends Loss of Market Leadership - John Browne - Euro Pacific Capital

... the German Finance Minister commented lamely that, "The financial sector must appropriately participate in bearing the cost of the financial crisis." ...

That is like saying the garbage collector must bear responsibility for the landfill filling up.

The financial sector just passes the costs on to the consumer. The consumer foots all the bills. So just how does the financial sector bear any actual costs?

Commented 4271 days ago

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Beginning of the headline :Although it was barely noticed by the American press, on January 22nd, EU finance ministers approved a new "Financial Transactions Tax" (FTT) that has implications for market competitiveness around the world. The move was conceived as a Franco-German initiative and was supported by seven other EU nations, including the entire bloc of highly indebted southern tier nations, to reach the minimum nine nations required to press ahead under the EU's so-called, 'enhanced co-operation procedures'. If at... Read More

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