Markets warn G20 of EU trading tax risk
more cobblers from the bankers who don't or wont pay there fair share of tax
the only damage to global economic growth will be caused by the bankers when they throw their toys out the pram again, and tank the market in protest,
the old capitalist model is broken, so at least the tax would go some way to address part of the problems
next close the offshore tax havens.. although can't see that ever happening as that's where the politicians have their money hidden away
something i saw earlier on a side link
see how the other half, or 5% live
HGTV FrontDoor - Celebrity Homes and Real Estate Listings
i'd nearly forgotten how nice it is on the other side
no wonder they don't want to pay tax
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
The world's top financial markets have urged G20 finance ministers to oppose European plans to levy a tax on trading, warning it will damage global economic growth.
In a joint letter to the ministers, meeting in Washington this week, associations representing New York, London, Hong Kong and other financial markets, said the proposed Financial Transaction Tax would hurt the world economy at a time of significant uncertainty.
Eleven EU countries have agreed to enact the tax with the aim of raising billions of euros from the financial services industry and detering speculation.
"If this goes ahead the impact will go well beyond of the 11 member states who are currently considering the proposal," said Simon Lewis, head of the U.K.-based Global Financial Markets Association (GFMA), one of the signatories to the letter.
"At a time of poor economic growth in many parts of the world, that is completely counter-productive," he told CNNMoney.
read more ...