Germany, France and other nine eurozone countries will be put on the financial transaction tax, this action may be moved Banks and trading company, but will ask voters to begin work on Tuesday, and can increase how much, need to income.
The European Union finance ministers in Brussels at a conference, is expected to give their approval, allow 11 countries - Germany, France, Italy, Spain, Austria, Portugal, Belgium, Estonia, Greece, Slovakia and Slovenia - began to prepare for collection of tax all financial market transaction.
Levy, more than forty years ago by American economist James tobin puts forward ideas, but largely ignored so far is important, on the basis of the symbolism, politicians, groping their way, through five years of financial crisis, to grasp the bank blamed for the cause.
Some people think that tax increase to 2 billion euros ($) a year, although estimates are quite different.
"There are enough support from the minister, a diplomat says:" it may seem, they will allow in 11 to continue to strengthen cooperation, in the financial transaction tax.
According to the provisions of the European Union, the lowest nine countries and regions of the legislative cooperation not all member states to use in the process of strengthening cooperation, as long as a weighted most of the eu's 27 countries give their authority.
Germany and France between decision and a small group of only 17 eurozone countries impose tax sank in the European Union, and then after efforts to boost. Sweden, it tried to give up their this tax, warning, collect other place to promote trade.
Unintended consequences
Critics worry that in Europe, the euro 17 countries are increasingly deepening connection, in order to support the currency, collect open another crack, and there is a growing risk, Britain can even leave the European Union.
British criticism of tax revenue, will not use it, as the region's largest financial centre, London trading, will be affected. If the buyer or the seller in the trade in one of the national tax, can collect sign, whether transactions occurred.
Tax supporters, including the German finance minister Wolfgang · ShuoYiBuLe, believe it can solve a lot of people think that speculative, such as high frequency trading, every moment of the charge of the collection of the trading activities.
However, in Brussels think-tank Bruegel financial market experts, nicolas said veron, tax is a misleading.
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"There are so many things, we do not understand the financial system, in roughly the same way, in the 17th century the doctor can understand human things, but a couple of not full view," he said.
"The use of financial transaction tax, in order to solve the financing evils, such as high-frequency trading turn out to equivalent to that of a 17 th-century leech process."
Some countries have depend on the new source of income, is a popular profits shrinking economy and unemployment rises, weaken the other tax income countries.
Officials previously estimated, if all 27 eu countries full implementation of the plan, it can improve the 5.7 billion euros ($7.6 billion) a year. Estimates of the amount of 11 eurozone countries could trigger a big difference.
As long as the minister for 11 countries tend to plan, the next step is to the European commission to draw up a plan of the tax.
It is possible to suggest the tax rate of 0.01%, 0.1%, and derivatives trading stock and bond trading.
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