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Robin Hood is back

January 7, 2012

The idea on taxing financial transactions has been around for decades. Every economic downturn resurfaced the talks to charge the financial dealings, but with the bad times also the debate said goodbye. This time it seems to be different.

Last September the European Commission formally adopted the plan to tax stock and bond trades as well as derivatives across Europe. The main objective, strongly supported by public opinion, was that financial markets need to share the burden of economic recovery. The French government announced yesterday the plan to impose the tax by the end of this year, regardless of the common stand.

Whether the other European states will follow the initiative is pending, since the vote should be unanimous. The opposition from Britain, occasionally backed by Sweden and the Czech Republic, who want the implementation to be global, may spoil the party. The Germans, however are enthusiastic this time, so the Robin Hood tax, as some call it, is gaining the momentum in Europe.

From → Hic Salta

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